Hultafors Group has acquired all shares in British measuring tape manufacturer Fisco Tools Ltd.
Hultafors and Fisco Tools have for many years now undertaken strategic cooperation covering the production and sale of measuring tools. With this acquisition, Hultafors says it will be able to broaden its product portfolio and strengthen its presence on the European market.
“Hultafors has high growth targets and, with the acquisition of Fisco Tools, we will increase our turnover by over 70m Swedish Krona,” says Hultafors CEO Bo Jägnefält. “Tape measures are today one of the world’s most frequently used hand tools and we see considerable growth potential in virtually all markets.”
In 2007, Hultafors Group turnover was 1.1bn Swedish Krona. The group currently consists of three brands: Hultafors Tools, Wibe Ladders, acquired in 2005, and Snickers Workwear, acquired in December 2006.