Ringsted Spærfabrik and Jysk Spærfabrik Become Part of Palsgaard Spær
Palsgaard Spær, headquartered in Hampen, Central Jutland, has just signed an agreement with Ringsted Spærfabrik and Jysk Spærfabrik to acquire their business activities. Henceforth, both companies will be subsidiaries of Palsgaard Spær, continuing their normal operations as before. Palsgaard Spær looks forward to welcoming many new skilled colleagues and gaining new competencies for the company.
As of June 30, 2024, Jysk Spærfabrik, which has production in Almind near Kolding, and Ringsted Spærfabrik will be part of Palsgaard Spær. Consequently, these two companies will also become part of the Nordic Wood Industries group, which is dedicated to making it easy for the construction industry to use wood-based solutions.
– We are excited to share the good news about the acquisition of the two truss manufacturers. We have made acquisitions before, which have proven to be very good decisions, strengthening Palsgaard Spær. We have the same expectations for the acquisition of Ringsted Spærfabrik and Jysk Spærfabrik , where we will gain many new, talented colleagues and competencies,” says Tobias Smith, CEO of Palsgaard Spær.
Both Ringsted Spærfabrik and Jysk Spærfabrik will maintain unchanged operations post-acquisition, continuing production at the same locations with the same employees, while customers can still request quotes from all three companies.
– We will allow the companies to continue as is, giving us ample time to analyze how best to conduct any potential mergers. Both Palsgaard Spær and the Nordic Wood Industries group see great potential in wood-based products in construction, and therefore our ambition is to grow the business. Here, we will need the skilled and competent employees currently in the two companies to help us achieve this goal,” continues Tobias Smith.
The Previous Owners Continue in the Companies
For the same reason, it is not a sudden farewell for the owners of Ringsted Spærfabrik or Jysk Spærfabrik. In fact, the sellers of Jysk Spærfabrik, directors Martin Diemer and Henrik Schmidt, have reinvested part of the purchase price into Nordic Wood Industries while continuing as daily managers in Almind.
– Both Henrik and I are pleased with the agreement now finalized with Palsgaard Spær, which has been in the works for three years. Palsgaard Spær and Nordic Wood Industries have a concept we truly believe in, which is why we not only decided to sell to them but also reinvest a portion of the purchase price into Nordic Wood Industries. We both continue as daily managers in the company, hoping to continue working with many of our customers who have shown great support over the years, for which we are very grateful,” says Martin Diemer, director and seller of Jysk Spærfabrik.
He also highlights that both he and Henrik Schmidt see several advantages in joining a larger group, particularly concerning sustainability agendas.
– Currently, the construction industry is facing increasing requirements for sustainability and its documentation. Here, it is undeniable that the larger the company, the easier it is to develop in this area and allocate the necessary resources to document it,” says Martin Diemer.
The sellers of Ringsted Spærfabrik, director Svend Tue Christensen and his wife, engineer Lizet Christensen, will also not be saying goodbye from the takeover date. They will both continue during a transition period until December 31, 2024.
– Of course, it is not only with great joy but also with a touch of sadness that we now sell Ringsted Spærfabrik, which I have been a part of since I was very young and which has been passed down through three generations. But Palsgaard Spær made an attractive offer that made us decide to try something new, and it is important to emphasize that we are not selling out of necessity, but out of desire. Ringsted Spærfabrik has always been a healthy business with profits even in times when others have faced losses,” says Svend Tue Christensen, director and seller of Ringsted Spærfabrik. He also expresses his gratitude for the long transition period, allowing both him and Lizet Christensen to hand over the company in a good and proper manner.
Tobias Smith will formally assume the role of CEO in both companies going forward, with Thomas Raunsbæk, group director of Nordic Wood Industries, serving as chairman of the board, while the previous owners will continue in daily management.