German specialty chemical distributor Biesterfeld Spezialchemie acquired Norwegian lubricant distributor Lindberg & Lund AS last week for an undisclosed amount to increase its presence in the lucrative Scandinavian lubricants market.
The acquisition gives Biesterfeld, one of Europes largest specialized chemical distributors, access to new markets in Finland, Sweden and Norway. Lindberg & Lund distributes brand-name lubricants, including Mobil, and employs 50 people in application technology, sales administration and warehousing, according to Biesterfelds announcement.
With the acquisition, [Biesterfeld] enters a well-established business in the Nordic markets as Lindberg & Lund operates successfully with a nearly identical business model as Biesterfeld, Biesterfeld representative Henrike Riemann told Lube Report in an email. The companies business model can profit from the valuable synergies the acquisition created, mainly through working with global suppliers and opening new opportunities for Biesterfelds business partners and customers in Scandinavia, she said.
Biesterfeld and Lindberg & Lund executives hailed the deal as a way to expand sales and distribution opportunities. We have found a new owner and partner that will continue to develop our business over the long term, said Steinar Lindberg, majority shareholder of the Lindberg & Lund Group.
Peter Wilkes, managing director of Biesterfeld Spezialchemie, said the companys performance products, such as silicone elastomers and automotive and construction products, are complemented by the range of products sold by Lindberg & Lund.
Riemann said Lindberg & Lund will benefit in the near future from Biesterfelds European market presence as well as from the companys long-term and successful customer relationships. We are expecting an organic growth with the existing portfolio in the years to come, she said.
The existing management team will retain local control with Morten Haugberg as managing director, she continued. However, to assist in the transition, Biesterfeld will temporarily move a local integration manger to Norway.
In addition to lubricants, Vestby, Norway-based Lindburg & Lund also imports, manufactures for and distributes construction adhesives, solvents, composite material and castings to various industries.
Hamburg, Germany-based Biesterfeld Spezialchemie distributes specialty chemicals to a variety of industries, including personal care, healthcare, paints and coatings, adhesives, polyurethane, construction, nutrition, electrical, electronics and energy.