Norgesdekk AS agrees to buy Hjulius Dekk og Felg AS
Norgesdekk AS agreed to buy 100 per cent of Hjulius Dekk og Felg AS on 17 October 2014. The strategy behind the move is to strengthen Norgesdekk’s position on the Norwegian South Coast in particular but there are also said to be “other synergies”. Following this acquisition Norgesdekk will have seven wholesale warehouses, serving customers selling tyres and wheels of all kinds across Norway. The latest announcement follows the purchase of P. Holth AS at the end of 2012 in a similar move.
Hjulius Dekk Felg AS was established in 2001 by Tomas Nilsen, Sjur Gije and Tord Erik Solberg – who all brought extensive industry experience into their business. This resulted in the growth of a business with “significant” passenger car tyre market share in southern Norway and a national presence with regard to wheels. 2013 revenues total 56 million Norwegian krone (£5.277 million; 6.668 million euros; $8.517 million).
The acquired company will reportedly keep its full complement of staff and Norgesdekk reports that no reductions have been planned.
According to the company, Norgesdekk AS is the largest non-factory owned tyre and wheel wholesaler in Norway. 2014 sales are expected to total over 500 million krone. The company has about 60 employees. Norgesdekk supplies tyres and wheels for passenger cars of all types and sizes. Key named brands include: Continental, Dunlop, Falken, Gislaved, Goodyear, Michelin, Nokian, Vredestein and Yokohama.