Consolis Group, one of Europe’s leading suppliers of precast concrete solutions, announced today the signature of a purchase agreement with TMB Group, a producer of concrete elements in the Baltic countries and Finland. Through this acquisition, Consolis will reinforce its presence in Northern Europe. In addition, TMB Group brings more than 50 years of industry expertise and specific capabilities in both residential and non-residential buildings. Founded in 1961, TMB Group employs around 500 people and its annual revenues exceeded 120 million € in 2017.
Nicolas Yatzimirsky, Chief Executive Officer of Consolis states:
“By acquiring TMB Group, we demonstrate our ambition to further strengthen our presence in our key European markets. They bring valuable industrial know-how and our respective teams will mutually benefit from further best practices sharing.
TMB and its subsidiaries in Finland, Estonia and Latvia have built long-term relationships with their clients. Combining our strengths will benefit to customers through an extended and wider range of solutions and services.”
Jaan Luts, Chief Executive Officer of TMB:
“TMB Group has reached a stage of its development where the next phase of growth could not have been achieved without a strategic partner. Consolis Group is undoubtedly an industry leader that is playing a key role in the fast changing European concrete market.
The acquisition by Consolis is an acknowledgment of our customer-centric strategy, our entrepreneurial spirit, our project management capabilities and our partnership approach on big projects.”
The transaction is subject to regulatory approvals. The closing of the transaction is expected by early 2019.
About TMB:
TMB is the company engaged in the production, sale and installation of concrete elements. Its subsidiaries are: OÜ TMB Element (in Estonia), SIA TMB Elements (in Latvia), Bygg Element Sverige AB (in Sweden) and Betonimestarit OY (in Finland).
About Consolis:
Consolis is a leading precast concrete solution provider in Europe. The Group provides smart, durable precast concrete structures for the transportation, utilities and building sectors. With more than 11,000 employees in 22 countries throughout the world, the Group generated €1.45 billion in revenue in 2017.
Chief Executive Officer of AS TMB: Jaan Luts, jaan.luts@tmbelement.ee, tel +372 509 3482
Media Relations Contact of OÜ TMB Element: Mai Mitt, mai.mitt@tmbelement.ee, tel +372 508 7478
