Arno Tammjärv, the owner of Estonian sawmill Barrus that manufactures window and door components in South Estonia, has sold the company to a Danish enterprise Inter-Invest A/S, writes aripaev.ee.
Although the purchase price is not public, it is estimated to have been between 50 million to 100 million kroons, based on the company’s economic results from recent years. Barrus ended last year with the turnover of 152 million kroons, an increase of 1.1 times from 2008. Janar Tammjärv who will continue as the CEO of Barrus, said that the turnover this year should exceed 200 million kroons or 25% more than last year.
The company founded in 1993 exports about 70% of its output, mainly window, door and staircase components, to Scandinavia, Holland, UK and Italy. It employs 116 employees.
Keystone Advisers acted as advisor to the seller in the turnaround and sale of the company.