Tibnor, a leading steel and metals distributor in the Nordics and Baltics and a subsidiary of SSAB, has signed an agreement with Ovako to acquire Ovako Metals Oy, a Finnish steel and metals distribution company, subject to competition approval in Finland.
The transaction will strengthen Tibnor’s position in the Finnish market by adding an established distributor with deep roots in the local steel and metals industry. Ovako Metals Oy supplies, processes, and distributes steel and metals primarily to the engineering, process, and construction sectors in Finland.
Ovako Metals Oy employs around 40 people and reported a turnover of approximately EUR 40 mln (USD 47 mln) in 2024. Upon completion, Tibnor will take over the company’s distribution operations, including its product portfolio, logistics and warehousing, processing services, and local sales organization.
Tibnor said the acquisition will broaden its product offering and enhance service levels in Finland. The transaction is expected to close in the first quarter of 2026, pending regulatory approval.
1 USD / 0.85 EUR
