Smith Stål a leader within the Norwegian market for the supply of steel, rebar and metals has entered into an agreement to acquire Stena Stål AS.
The transaction expands Smith Ståls customer base and notably incorporates an agreement to distribute a range of specialty steel and tools through Smith Ståls national sales network, widening further their product offering. Employees of Stena Stål AS will join Smith Stål and will have immediate access to a wider selection of locally stocked items from Smith Stål to present to the customer base.
Stena Stål AS had a turnover of 70 million NOK in 2023 and 11 employees. The takeover will be completed in the first quarter of 2024.
“The merger will provide significant synergies that will benefit both our and Stena’s customers through more efficient operations and increased competitiveness across a larger product range. Stena is a quality operation, and the inherent expertise is valuable both for us and our customers.” says Arne Reinertsen, CEO of E.A. Smith.
“This will be a beneficial transaction for both employees and customers of Stena Stål AS, and we are pleased that Smith Stål is taking the business forward. E.A. Smith is a stable and long-term owner, and we look forward to future cooperation with Smith Stål to develop the distribution of product categories in which we are strong in Sweden into the Norwegian market together.” says Stefan Svensson, CEO of Stena Stål AS.
The operations at the Moss warehouse will be discontinued after the takeover and moved to Smith Ståls facility in Holmestrand.