Boreo Plc has acquired Spetselektroodi AS, a leading Estonian welding solutions provider, to enhance its Technical Trade Business Area and strengthen its partnership with Fronius.

Target Information

Boreo Plc has signed a share purchase agreement on March 31, 2025, to acquire the entire share capital of Spetselektroodi AS (“Spetselektroodi” or “the Company”) from Indrek Ranne (the “Seller”). Post-transaction, Spetselektroodi will become part of Boreo’s Technical Trade Business Area and will be managed by Karl Laasik, the current Head of Technical Support at the Company.

Founded in 1995, Spetselektroodi specializes in the distribution of welding and cutting products and solutions within Estonia. It collaborates with notable suppliers such as Fronius, a global leader in welding products, and Hypertherm, known for their plasma cutting solutions. The Company plays a crucial role as a partner to its customers through the entire product lifecycle, covering import, warehousing, sales, and aftermarket services. Based in Tallinn, Tartu, and Haljala, Spetselektroodi has 12 employees and reported revenues of 3.6 million euros with an EBIT of 0.4 million euros for FY2024.

Industry Overview

The welding industry in Estonia has shown resilience and growth, largely driven by increasing investments in infrastructure and manufacturing sectors. As a key player in the Baltic region, Estonia's welding industry benefits from a robu