- Linotol Group acquires Tiller-Vimek, further strengthening its footprint in Norway
- Tiller-Vimek is a leading flooring solutions provider in Norway, specialising in floors for industrial purposes and storage facilities
- The founders of Tiller-Vimek reinvest alongside Accent Equity and founders of Linotol and C Holmqvist
Linotol Group has completed the acquisition of Tiller-Vimek in Norway. The addition of Tiller-Vimek forms an important step towards expanding the Group’s footprint in Norway, and strengthening the Group’s position as the leading provider of industrial flooring solutions in the Nordic region. Earlier this year, Accent Equity acquired a majority ownership in Linotol and C Holmqivst Entreprenad, creating a platform for growth within industrial flooring solutions. Linotol and C Holmqvist formed what is now Linotol Group.
Tiller-Vimek is a Norwegian flooring solutions provider, serving property owners, developers and construction companies with flooring solutions mainly for industrial and storage purposes. The company generated sales around NOK 200m in 2022, and has ca. 35 employees. Tiller-Vimek and Linotol Group generated combined sales in excess of SEK 1bn in 2022 (pro forma) and has c. 225 employees.
Tiller-Vimek will form the platform of operations in Norway for Linotol Group, and the combination of the businesses will create an even stronger group which will continue to provide its customers with top-quality services. The founders of Tiller-Vimek will reinvest in the Linotol Group and will remain in their current management positions.
“Together with Accent Equity and Linotol Group, we will be able to continue our growth journey towards becoming a leader within industrial flooring in the Norwegian market. By joining Linotol Group, we are getting access to a broader market, and will be more competitive in projects where we can leverage resources and knowledge from Linotol. We are very happy that we will be able to retain our team of dedicated employees and focus on growing our business together with Linotol Group.” says Ola Stormorken, managing director of Tiller-Vimek.
“We strongly believe in the combination of Linotol Group and Tiller-Vimek, and very much look forward to growing the businesses together. Tiller-Vimek has a great reputation for its high quality offering, and is ideally positioned to continue its profitable growth journey. We are very excited about continuing the journey together, further strengthening our position as the leading provider of industrial flooring solutions in the Nordics.” says Michael Larsson, CEO of Linotol Group.
The transaction closed on 30th November 2023.
For additional information, please contact:
Michael Larsson, CEO Linotol Group, michael.larsson@linotol.se
Tommy Torwald, Chairman Linotol Group, tommy.torwald@accentequity.se
About Linotol:
Linotol Group is a market leading supplier of industrial flooring solutions for commercial, public and industrial use. The company is present in Sweden and Norway, and has completed projects across Scandinavia for a diversified customer and end-customer portfolio. The company has c. 190 employees, and generated pro forma sales of SEK 811m in 2022.
www.linotol.se
About Tiller-Vimek:
Tiller-Vimek specialises in floors for industrial and storage facilities, and is one of the largest suppliers of flooring solutions in Norway. Located in Gudbrandsdalen, the company serve most of the south-eastern Norway from Trondheim to Oslo. The company employs around 35 people and generated sales of NOK 204m in 2022.
www.tiller-vimek.no
About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
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