Ahlsell has agreed to acquire SIA Profs, Latvia's largest distributor of electrical installation products, as part of its strategy to expand into the Latvian market.

Target Company Overview

Ahlsell has reached an agreement with the owners of SIA Profs to acquire its operations. Profs is the largest distributor of electrical installation products in Latvia and also operates in the areas of HVAC and Tools & Machinery. The company reports an annual revenue of approximately 450 million SEK and employs around 180 individuals.

Industry Overview in Latvia

The electrical installation products industry in Latvia has been experiencing significant growth, driven by increasing investments in infrastructure and construction projects. With a growing demand for modern electrical installations, businesses in this sector are positioned to capitalize on new opportunities arising from advancements in technology and energy efficiency standards.

Moreover, the HVAC (heating, ventilation, and air conditioning) sector is also burgeoning, reflecting a broader trend toward sustainable and energy-efficient