28
Thu, Mar
72 New Articles

TGS Baltic Assisted Ascalon Holding GmbH in Acquiring 47% Ownership in Scancerco Oy

TGS Baltic Assisted Ascalon Holding GmbH in Acquiring 47% Ownership in Scancerco Oy

Estonia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

TGS Baltic has assisted Austrian-headquartered Ascalon Holding GmbH with its October 30, 2017 acquisition of a 47% ownership in Finnish Scancerco Oy, a wholesale company for the door, window, and building industry. The existing shareholders will still keep the majority shareholding in Scancerco Oy.

According to a Scancero Oy press release, the company "is a wholesale company for the door, window, and building industry. Its roots extend to 1976, when, Scanfinn Oy, the first operator of the former group structure was established. The Group structure was de-merged on March 1, 2017, when previous sister companies Biobe Oy and Scanfinn Oy ceased to exist, although their names were retained as auxiliary names and trademarks of Scancerco Oy."

In addition, according to the press release, "Ascalon Holding GmbH plans to further develop Scancerco Oy's long-term commitment to becoming a customer-oriented specialist and service company with close and good cooperation with customers, staff and principals. Ascalon Holding GmbH is the majority shareholder of VBH, [which] VBH has been a long-standing partner for Scancerco and its subsidiary companies. The sole owner of Ascalon Holding GmbH, Victor Trenev, is a strong player in the industry and he owns, among others, a similar large-scale wholesale company TBM, which operates in Russia, Belarus, Kazakhstan, and Moldova. With the acquisition, Scancerco Oy's supplier contacts are growing, enabling customers a wider range of products, both in terms of new products, product solutions and product categories, offering products also to customers' export markets. The change also enables more robust product support because of the technical support by partner network."

TGS Baltic’s M&A team was led by Talinn-based Associate Partner Kadri Kallas.

TGS Baltic did not reply to an inquiry about counsel for the seller.

 

Our Latest Issue