Altor to divest major part of Constructor Group

Constructor Group AS is one of the largest providers of storage solutions in Europe. The Group markets its offering under the brands Constructor, Constructor Logistics, Bruynzeel, Kasten, Dexion and PSS. Constructor Group was acquired in 2007 by Altor Fund II.

On the 4th of October, Altor signed an agreement to divest Constructor Group – excluding the Bruynzeel brand and offering – to Gonvarri. Constructor Group will become a part of Gonvarri Steel Services, a business with 36 steel service centres and a global market footprint. Gonvarri Steel Services had in 2016 revenues of EUR 2,325m and is headquartered in Madrid, Spain.

“It has been an exciting ten years for Altor with the Constructor Group” says Pål Stampe, partner at Altor Equity Partners and board member of Constructor. “We have had a long journey together, and seen a very positive development in recent years. We believe that Gonvarri is an excellent new, committed and long-term owner.”

“We are happy to welcome Constructor Group to Gonvarri Steel Services” says Josu Calvo, CEO at Gonvarri. “This acquisition is a perfect fit for us, it broadens our offering further and we look forward to further growing and developing Constructor’s business.”

“I am convinced that Gonvarri will be a good owner of Constructor Group and look forward to working with their management to further develop Constructor’s business” says Frank Pohl, CEO of Constructor Group.

The transaction is subject to customary regulatory requirements and approvals.