Wiking Gulve has been acquired by PA Savværk and Timply

Clearwater Advisor

The Danish private equity fund Dania Capital was the owner of Wiking Gulve. The divestment has been made to two new owners experienced in the wood industry: Kim Axelsen, who is operating PA Sawmill, and John Bojesen, who together with Kim Axelsen, owns the company Timply.

The merger gives the companies a joint position as one of Denmark’s leading providers of solid and lamella wood floors. The two new owners expect to reap some synergies from the acquisition.

The production at Wiking Gulve continues at the factory in Skive. Among other things, PA Sawmill comes to stand for cutting and drying of top lamellas to Wiking Gulve. Wiking Gulve develops, manufactures and sells 3-layer lamella built plank floors, primarily pine, ash and oak.

PA Sawmill sells a broad selection of wood products including wood flooring for both residential and commercial customers. Timply trades with Russian high-quality timber.