Istobal becomes major shareholder in the Danish company Ninki Bilvask

By 26 Diciembre, 2013Sin categoría
ISTOBAL, the Spanish company leader in design, production and commercialisation of car wash solutions, has recently acquired the majority shareholder of the Danish company Ninki Bilvask AS, leader in car wash sale and service in Denmark. With this investment, Istobal reinforces its position in the Scandinavian market and continues its worldwide expansion plan. This is the second acquisition that Istobal has carried out in 2013 in order to strengthen its internationalization and commercial network in Europe. Ninki Bilvask AS, Istobal distributor since 1997, with a turnover of 8 million euros and annual sales over 50 machines, has 30 employees staff and among its main customers are oil companies Statoil, UnoX, OKQ8 and F24, as well as car dealers. The acquisition of the majority shareholder of Ninki Bilvask AS, along with the purchase of the subsidiaries of the French Group Lavance (the companies OLM and FDI+), which was made at the beginning of 2013, reinforces Istobal in the European market. The acquisition of Lavance Group´s subsidiaries specialized in train wash and commercial vehicle wash (FDI+ y OLM), has enabled Istobal to position the company in the European market as reference in the railway sector, as well as in commercial vehicle wash equipment. Spanish leader in car wash sector and second in Europe, the relevance of the Istobal internationalization is currently 80% of its business. Its turnover in 2012 reached 64 million euros and expects to close the year 2013 with sales of around 70 million euros. It exports its wash products from 1970 to more than 70 countries, working with a wide network of distributors worldwide. It has six subsidiaries and two assembly plants in Europe, as well as two other subsidiaries and assembly plants in USA and Brazil.