Garsdalo Medienos Technologija, specialized tools and equipment provider for the woodworking industry, is acquired by Kyocera Unimerco
Kyocera Group’s subsidiary in charge of manufacturing and sales of industrial cutting tools, Kyocera Unimerco A/S has entered into agreement to acquire 100% shares in UAB Garsdalo Medienos Technologija (hereinafter – “Garsdalo”), a Lithuania-based company specializing in production and distribution of tools and equipment for the woodworking industry. Through this acquisition, Kyocera Unimerco aims to strengthen its woodworking tool business currently centered in Northern Europe.
Founded in 1998 in Lithuania, Garsdalo specializes in production of polycrystalline diamond (PCD) tools, providing re-sharpening services and distributing tools and equipment for the woodworking industry. The 42 people company has a state of the art production plant in Vilnius and is exporting tools to more than 10 countries in Europe.
“I am glad that we have reached an agreement with our long-term partner – we have been working with Kyocera Unimerco since the foundation of the company in 1998. Being a part of the larger group now means further development of Garsdalo as a leading woodworking tool supplier in the region as well as new opportunities for our customers”, says Ole Garsdal, founder and CEO of Garsdalo.
According to Anders Hegaard, Group Vice President at Kyocera Unimerco, “We are happy to welcome Garsdalo into our group. This acquisition will allow us to create synergies by expanding sales channels in Central and Eastern Europe and strengthening our product line-up”.
This is Kyocera Unimerco’s first acquisition in Eastern Europe. The transaction was completed on 27 April 2015. Transaction value is not disclosed.
Keystone Advisers acted as the exclusive financial advisor to the Seller. Seller’s legal advisor was Glimstedt. Kyocera Unimerco was advised by KPMG, Plesner and LAWIN.
About Kyocera Unimerco group
Kyocera Unimerco A/S is an international manufacturer, distributor and service company. The company comprises a tooling division (Kyocera Unimerco Tooling) and a fastening division (Kyocera Unimerco Fastening). The group was founded in Denmark in 1964 under the name Unimerco. In 2011, all activities were acquired by Kyocera Group’s Germany-based subsidiary Kyocera Fineceramics GmbH.
Kyocera Corporation (NYSE:KYO) (TOKYO:6971), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics. By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of electronic components, printers, copiers, solar power generating systems, mobile phones, semiconductor packages, cutting tools and industrial ceramics. During the year ended March 31, 2014, the company’s net sales totalled 1.45 trillion yen (approx. USD14.1 billion). Kyocera appears on the latest listing of the “Top 100 Global Innovators” by Thomson Reuters, and is ranked #531 on Forbes magazine’s current “Global 2000” listing of the world’s largest publicly traded companies.
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