System scaffolding manufacturer HAKI has acquired Vertemax a UK-based global workzone safety company.
HAKI headquartered in Sweden has announced the purchase of all business shares in Vertemax the UK firm that designs and manufactures workzone safety products and provides access solutions around the world.
“We have been in contact with Vertemax for a long time and it is very satisfying that we have been able to reach an agreement under the current circumstances,” said Thomas Schüller, Haki’s CEO.
Vertemax has a strong product portfolio says HAKI, that fits well into the global trends in the form of stricter legislation on occupational safety and meets the increased demand for fall protection and protective screens.
The company was founded in 2010 and is headquartered in Aylesham, United Kingdom. It has around 35 employees, with a development facility in nearby Canterbury and sales offices in Toronto, Canada and Bratislava, Slovakia.
Vertemax designs, develops and markets workzone safety products and access solutions. Its largest market is here in the UK, with London being the main focus for new construction projects.
In recent years, Vertemax has seen strong growth in Canada and their sales office in Bratislava was recently opened to cover the Eastern European market.
The firm has seen its sales increase to approximately £15million in 2020.
Gary Taylor founder and CEO of Vertemax said: “We look forward to becoming a part of the Midway Holding group of companies. We see this as a strategically important step for us to be able to create more value for our customers. With our consolidated capabilities and resources, we are convinced that we will generate a stronger platform for future growth.”
Thomas Schüller added: “We see excellent opportunities for synergies between Vertemax and HAKI, including developing our common markets together and jointly utilizing our logistical capabilities.”
“In the long-term, the acquisition creates opportunities for us to participate in consolidating a fragmented niche market.”
The acquisition also strengthens the opportunities for organic growth by being able to offer Vertemax’s products to HAKI’s customers in Scandinavia, and HAKI’s products to Vertemax’s customers in the U.K. And in Eastern Europe, by marketing our offerings.