G3 Gausdal Treindustrier SA has acquired 80% of Innlandet Trebearbeiding AS to enhance its competitive position in the Norwegian lumber industry.

Target Information

G3 Gausdal Treindustrier SA (G3) has acquired an 80% stake in Innlandet Trebearbeiding AS (ITB), a company operating in the wood processing industry. ITB was established in 2020 and specializes in finger jointing of lumber. Previously a division of RingAlm, ITB was spun off into an independent entity when RingAlm was sold in the same year. Located in Brumund Sag, just 14 km from Brumunddal, ITB produces lumber lengths up to 12.4 meters and widths up to 248 mm. Notably, of the five finger jointing facilities in Norway authorized to CE mark their products, ITB is one of them. The company reported revenue of NOK 34 million in 2022.

Industry Overview

The Norwegian lumber industry has been undergoing significant consolidation in recent years, with both producers and customers becoming fewer and larger. This shift in the market dynamics has driven companies to expand and innovate in order to remain competitive. G3, based in Gausdal, is a cooperative owned by around 1,400 forest owners from Hadeland in the south to Sel in Gudbrandsdalen in the north. The company operates several production facilities, including G3 Gausdal Bruk, G3 Gran Tre, and G3 Fåvang Sag, and boasts the largest production unit for painted and stained exterior cladding in Norway. In 2022, G3 generated revenues of NOK 973 million, underscoring its strong market position.

The demand for lumber has been on the rise, driven by various sectors including truss and component manufacturers, as well as builders of houses and cabins. This increasing demand presents substan