Levanto Diamond Tools AB and Levanto Norge AS have been acquired by Midhage AB
On November 16, 2021, Levanto Diamond Tools AB and Levanto Norge AS were acquired by the Swedish company Midhage AB. The merge between the companies will take place during the first half of 2022.
Midhage’s acquisition of Levanto Diamond Tools AB and Levanto Norge AS is a natural continuation of Midhage’s strategy to strengthen its position in the Construction Industry in the Nordics. The first step of the strategy took place in September, when Jack Midhage AB and Jerneviken AB were acquired by the Swedish company Puvac AB. Puvac AB is a family run company based in Helsingborg. Puvac AB sees great potential in the Construction Industry and the need for cutting and drilling in e.g., concrete. As part of its acquisition strategy in this segment, Puvac AB took over the operations of both Jerneviken Maskin AB and Jack Midhage AB. Both companies ran the same type of business.
“It is always hard to digest what happened after a short and intense discussion, about the sale of companies you have built up over a long period of time.
Levanto Oy bought the shares in Globe-Tool AB in 2000 and Diafenix Tools AB in 2001 and has since that built up Levanto Diamond Tools AB into a sales channel for the Finnish parent company Levanto Oy, founded as early as 1937. Levanto Oy has been a partner in the Norwegian company Scan-Diamant AS since 1999 but owned it completely since 2015 after the merger with Constec AS.
As we have now signed the agreement on the sale of Levanto Diamond Tools AB and Levanto Norge AS, Levanto Oy in Finland will become a supplier to a major player in the market and will instead focus on product development and production of diamond tools in Finland.
I am grateful that the personal ties to the fine staff in the respective companies remain as they now have a large new family to work with. The contact and development work continues in the same way, but now as a customer relationship. I am very grateful that the buyer is a family-owned company with deep roots in this industry and that the companies Midhage AB and Jerneviken AB are the companies that I personally got to know best over the years, even though I live in Finland”, says Patrick Sandman, CEO, Levanto Oy.
Levanto Diamond Tools AB and Levanto Norge AS are subsidiaries of the Finnish company Levanto Oy. The parent company was founded in 1937 and has long roots in the manufacture of diamond tools for the concrete and stone industry.
Levanto Diamond Tools AB, like the parent company, has extensive experience in the industry. The company operates throughout Sweden, with offices in Gothenburg and Stockholm. Levanto Diamond Tools is a specialist on first-class diamond tool solutions and the company’s strength is the staff’s extensive expertise in both Construction and Stone Industry as well as machine sales.
Levanto Norge AS operates throughout Norway, with offices located in Røros and Oslo. In addition to sales of first-class diamond tools, Levanto Norge AS also has a strong position in Norway in machine rental for the Construction Industry.
Further information:
Levanto Oy; Patrick Sandman, CEO, , +358 400 969 660
Puvac AB; Torbjörn Bengtsson, CEO, , +46 70 222 8079
