Tibnor, a leading steel and metals distributor in the Nordics and Baltics and a subsidiary of SSAB, is set to complete the acquisition of Ovako Metals Oy from Ovako after receiving approval from competition authorities. The transaction, initially agreed in December 2025, is expected to close in the coming weeks.
Ovako Metals Oy supplies, processes, and distributes steel and metals primarily to the engineering, process, and construction sectors in Finland.
Under the deal, Tibnor will take over Ovako Metals’ distribution operations in Finland, including its product portfolio, logistics and warehousing activities, processing services and local sales organization.
The acquisition is expected to strengthen Tibnor’s position in Finland and support the expansion of its product range and service offering across the Nordics and Baltics.