11/3/2009 8:27 AM Ahlsell acquires complementing business

A Letter of Intent has been signed between Ahlsell AB and the listed Danish company Solar A/S, relating to an acquisition of Solar's business in Finland.

The business has a turnover of close to SEK 200 million, and around 50 employees in seven locations throughout Finland.

Adding further volumes to our existing business within the electrical segment will strengthen our presence and competitiveness in Finland, says Group CEO Göran Näsholm.

The transaction is expected to be finalised shortly and closing date is planned to take place around New Year.

For further information please contact Göran Näsholm, Group CEO, Phone +46 708 23 71 00, email goran.nasholm@ahlsell.se.

Ahlsell is the Nordic region's leading trading company in installation products and tools & machinery. It offers a wide range of products and services to professional users in the segments of heating & plumbing, electrical, tools and machinery, refrigeration and DIY. The Group has an annual turnover of approx. SEK 20 billion and about 4,500 employees.