Contiga AS acquires Tinglev Elementfabrik

Clearwater Advisor

Contiga AS (KB Gruppen Kongsvinger) has acquired Tinglev Elementfabrik, which in the future will be named Contiga Tinglev. The German subsidiary Tinglev Elementfabrik GmbH is also a part of the deal.

Both Tinglev Elementfabrik and Contiga are suppliers of prefabricated concrete elements. Tinglev Elementfabrik has in recent years struggled with a difficult market, but with the new owner has secured a strong position in the market.

The acquisition of Tinglev Elementfabrik supports Contigas strategy of expansion in all of Scandinavia. Contiga employs more than 500 employees in Norway and Sweden. KB Gruppen Kongsvinger is a family owned company, which holds significant ownerships in the building industry. The total group turnover in 2009 was approx. 3 billion DKK.

Tinglev Elementfabrik has an annual turnover of approx. 200 mDKK and was founded in 198. It employs more than 200 employees. The German subsidiary employs approx. 50 employees and has a turnover of approx. 45 mDKK.