Refrigerant and heating manufacturer, Proff Kulde, has acquired welding company, Paulsen Sveiseservice.
The takeover, the details of which are undisclosed, will help Proff Kulde increase its production capacity.
“Through this acquisition we are increasing our capacity for pipe welding and assembly which are important tasks in our production and project deliveries,” said Mathias Ingebrigtsen, managing director at Proff Kulde.
“This means that we can produce and deliver more and faster to our customers,” he added.
Svolvær-based Proff Kulde, which is owned by Bluefront Equity, acquired 100% of the shares in Paulsen Sveiseservice, which is located in Bø in Vesterålen, North Norway.
Paulsen Sveiseservice is led by managing director and founder Jostein Paulsen and had revenues of around NOK5 million (€430,000) last year. All five employees, including one apprentice, will remain on the payroll.
Growth strategy
During the past year Proff Kulde says it has grown its workforce by around 40% and significantly increased production capacity. The company has also developed and built its own R&D test facility to increase the development speed of future technologies.
Proff Kulde has a broad range of refrigerant and heating solutions based on CO2, which is a natural refrigerant. Popular products include the use refrigerated seawater for cooling of fish on board fishing vessels and in the land-based aquaculture industry, and freezing facilities for fishing vessels and land-based fishing.
