SCHOPFLOCH, Germany – Homag Group has expanded its activities in the solid wood sector with the acquisition of a majority interest in Kallesoe Machinery A/S, a Danish manufacturer of high-frequency presses for the production of cross-laminated timber (CLT).
Announced April 30, Homag will acquire approximately 70% of Kallesoe's shares from the Christensen family, with the residual 30% remaining with the Kallesoe family. The purchase price is in the low double-digit million-euro range, according to the press release.
Founded in 1969, Kallesoe has sales of approximately $24.029 million (€20 million) and around 70 employees. The company reportedly is one of the few suppliers of high-frequency presses and has installed around 500 CLT presses worldwide. Among the uses of CLT is housing construction.
“As a system supplier, we want to offer as many technologies for timber construction as possible from a single source,” said Ralf W. Dieter, CEO of Homag Group AG. “Due to the boom in the timber house market, the production of building elements is becoming increasingly industrialized and automated. Homag is the right partner for that."
He added, "We are developing the solid wood business into a second pillar alongside our activities with the furniture industry.”
As a result of the acquisition, Homag said its product range covers 70 percent of the process chain in the production of glued laminated timber elements. Other brands in the company's Solid Wood Processing business unit include its Weinmann subsidiary, which offers equipment for timber construction, such as framework and wall stations, and System TM, which offers systems for the sorting, optimizing and fingerjointing of solid wood boards.
“It was important for us to find a competent investor for Kallesoe, who will lead the business into a successful future. We are confident that Homag is exactly the right partner for this,” said Otto Christensen, the previous majority shareholder.
“We look forward to working with Homag to expand our position in the growth market of solid wood construction,” added Bruno Kallesoe, Chief Sales officer of Kallesoe Machinery A/S.
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