Hultafors Group AB has announced that it has formally acquired 100% of the shares in Telesteps AB (“Telesteps”) from Heim Holding AB on February 1st 2022.
Telesteps is a leading manufacturer of telescopic ladders for professional end users. The company is located in Tranås, Sweden, and has 9 employees and distribution on a global basis.
”We have been interested in acquiring Telesteps for a long time as we see their product portfolio of telescopic ladders as an excellent complement to our existing offering within ladders under our brand Wibe Ladders. We are impressed by their strong market reputation and innovation capabilities and look forward to developing and growing the business further together”, says Torbjörn Eriksson, President Hardware Europe in Hultafors Group.
The acquisition is part of Hultafors Group’s strategy to broaden our product portfolio with attractive product categories that the needs of professional end users. Telesteps ladders are well-suited for professional end users with high requirements as they manage to combine the flexible telescopic operation of the ladders and platforms with excellent safety and durability.
“Together with Hultafors Group I see a huge potential to accelerate our growth and continue the international expansion journey, so it was a natural choice to proceed with Hultafors Group as a long-term owner”, says Peter Heim, CEO for Telesteps.
Net sales amounts to ca. SEK 87 millions in 2021 with a profitability well in line with Hultafors Groups.
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