Tibnor has announced its agreement to acquire Ovako Metals Oy, a Finnish steel and metals distributor, aiming to enhance its market presence and service offerings in Finland.

Target Information

Tibnor, a subsidiary of SSAB, has entered into an agreement to acquire Ovako Metals Oy Ab, a Finnish distribution entity in the steel and metals sector. Ovako Metals Oy is a well-established distributor with a strong presence in Finland, serving the engineering, process, and construction industries. The company boasts a workforce of approximately 40 employees and reported a turnover of EUR 40 million in 2024. This acquisition is aimed at consolidating Tibnor's footprint in the Finnish market by leveraging Ovako Metals' established distribution network and expertise.

Ovako Metals Oy specializes in the stocking, processing, and distribution of a wide range of steel and metals, primarily targeting the engineering and construction sectors. The impending acquisition is expected to boost Tibnor's operational efficiency and product offering within the region, providing enhanced service levels to its customers.

Industry Overview in Finland

The Finnish steel and metals distribution industry is characterized by a competitive landscape with a mix of local and international players. It plays a crucial role in supplying materials to various essential