We advise Feon, a leading producer of structural steel in Finland, in its acquisition of the steel service business of Kontino.
Feon further increases its market share by acquiring the business of Kontino, another Finnish steel service company. After the transaction, Feon will have a pro forma turnover of EUR 150 million and will employ approximately 220 people. The transaction is expected to be completed in the end of 2020 or early 2021.
Feon has lately strengthened its position as a leading market player also through other acquisitions. In May 2020, we advised Feon in its acquisition of AluSteel, a top wholesaler of custom cut steel.
Feon Ltd, a wholly-owned subsidiary of Onvest Ltd, is headquartered in Helsinki, Finland. Feon, together with AluSteel, is the largest Finnish-owned steel service company with a pre-transaction annual turnover of EUR 90 million and approximately 140 employees.
Onvest Ltd is a family-owned investment company. In addition to its investment operations, Onvest is specialised in owning and developing commercial real estate across Finland.
Oy Kontino Ab is a family-owned steel wholesaler established in 1928 and employing more than 100 employees.