Nordic Wood Industries enters into an option agreement to take over Scandi Byg
Nordic Wood Industries has just entered into an agreement with MT Højgaard Holding on a binding collaboration and an option agreement on the takeover of the module manufacturer Scandi Byg. According to the CEO of Nordic Wood Industries, Thomas Raunsbæk, Scandi Byg has unrealized potential, which can be realized, among other things, via synergies across the wood group’s other companies.
Just before the Christmas, MT Højgaard Holding announced to the stock exchange that, after a lengthy strategic review, the group had decided to initiate a sale process for Scandi Byg. The sales process has now led to a binding collaboration and an option agreement on the takeover of the Løgstør-based module manufacturer for the timber group Nordic Wood Industries, which today includes the seven companies Palsgaard Spær, Nviro Danmark, Lilleheden, Roust Element, Roust Spær, Bisco Binder and Skandach Holzindustrie. At the same time, MT Højgaard Holding and Nordic Wood Industries are in close dialogue about future cooperation across the two groups.
– Scandi Byg is a really exciting company, which in many ways sets the standard for future construction with innovative and sustainable construction processes, including a large focus on DGNB-certified and Swan-labelled buildings. The company has over 40 years of product development behind it, which has ensured that they are today the Danish market leader in industrially manufactured modular construction. We are therefore very happy that we have been given the opportunity to take over the company, its talented employees and important skills within more environmentally friendly construction solutions – and we look forward to welcoming Scandi Byg’s management and the many employees into the group, says the Group CEO at Nordic Wood Industries, Thomas Raunsbæk, who has an in-depth knowledge of Scandi Building, and continues:
– It is no secret that Scandi Byg has had challenges in recent years with postponed construction projects, unpredictability in production and high material and energy prices. We believe that through the strong community, a clear focus on sustainable construction and transversal networks in Nordic Wood Industries, we can create good development and a profitable business that can grow both in Denmark and abroad. As part of Nordic Wood Industries, strong synergies can be achieved, as we focus on collaboration within the individual companies and across the board. At the same time, we are also ready to invest what is necessary in the company, so that Scandi Byg can utilize its full potential in Danish construction with its unique wooden modular solutions.
At MT Højgaard Holding, CEO Henrik Mielke agrees that Scandi Byg can achieve a positive effect from a binding collaboration and a change of ownership:
– We are happy to have entered into a binding collaboration and an option agreement on the sale of Scandi Byg to Nordic Wood Industries, who as a long-term owner will be able to create stability and provide employees with the best conditions to exploit the opportunities within modular construction and create value for customers , says Henrik Mielke.
Timber construction must be future-proofed
According to Thomas Raunsbæk, Nordic Wood Industries is in the process of a consolidation process, among other things, with a view to becoming a competence center in wood construction. This necessary consolidation is the cooperation agreement on and the purchase option on Scandi Byg an example of:
– The timber industry is experiencing huge growth and in order to meet the high demand for timber construction and timber-based products, a certain volume is needed behind it. At Nordic Wood Industries, we want to create a size where we have all the skills in wood construction in the group, with a view to developing more wood products and better wood construction. An investment in Scandi Byg will therefore be a good example of us joining forces so that customers not only get good, climate-friendly wood products, but also get a knowledge partner in us, he concludes.