Danish company Pajo Bolte AS (“Pajo Bolte”) is to have all outstanding shares bought by Bufab, following an agreement between the two companies.
Pajo Bolte sees annual sales of DKK 140 million and is a leading C-parts trading company mainly towards the Danish construction industry. It is headquartered in Hobro, Denmark.
“I’m pleased that Pajo Bolte is joining the Bufab Group, they will help us to improve our footprint in Denmark as well as improve our offering into new customer segments in the Nordic market”, says Karl Lemoine, M&A Specialist Bufab Group. “Pajo Bolte’s market position within C-parts to the construction industry will be a good fit into Bufab. The acquisition of Pajo Bolte is contributing to our growth journey in Segment North, and we are happy to welcome new colleagues to our team.”
Pajo Bolte has since its foundation in 1992 been family-owned and is currently run by the second generation, Lars Johansen, CEO. Under Lars leadership, Pajo Bolte has expanded the business into a supply chain partner to customers within the construction industry as well as across the assembly and manufacturing industries.
Lars Johansen, CEO at Pajo Bolte, added: “We´re looking forward to joining the Bufab Group as it gives us new opportunities to improve our customer service, grow our business and strengthen our team. We will continue working just like before, but now with all the benefits of being part of a larger group with many sister companies. I am looking forward to continue as Managing Director of Pajo Bolte, and together with the whole Pajo Bolte team I look forward to the cooperation with Bufab.”
The acquisition is scheduled to close and take effect this week and will be reported within Bufab's Segment North.