Consilium AB acquired Firenor AS
Consilium AB has acquired 60 percent of shares in the Norwegian fire security JKK Group AS, with an option to later acquire the remaining 40 percent of shares.
JKK Group AS, with subsidiaries FireNor AS, Fire Products AS, Passive Fire Protection and Slokkedesign AS, mainly sell products and systems for the offshore market, but also to the industrial market. JKK Group has 35 employees and reported in 2013 net sales of SEK 110 million and operating profit of 14 million. The price for the 60 percent of the shares is NOK 49 million. The option price for the remaining 40 percent of shares is based on average earnings over the five year period from 2014 to 2018.
– In the business area Fire Safety & Automation the main focus lies on the oil and gas industry, offshore and energy sectors. This acquisition complements and strengthens our offering of fire- and safety systems in these market segments, said Ove Hansson, president of Consilium.