UK-Sweedish Tornum Group has recently acquired JW Installations UK Ltd, a specialist in grain dryer plants and associated solutions and a distributor for the Tornum portfolio for nearly a decade.
The acquisition is financed through the existing credit facilities of Volati, a Swedish industrial group that acquires and develops strong businesses to create long-term value growth.
JWI Ltd is a family-run business with over 35 years of specialized experience in grain dryer plants, bulk materials handling and processing systems, and storage solutions for agricultural and industrial applications.
The North Yorkshire-based company has a strong position in the UK market and will remain an independent subsidiary after the acquisition, operating with directors James and Charles White.
“We are delighted to have acquired JWI from the White family. The acquisition will allow for a combination of product lines, and this coupled with JWI’s excellent service and sales network will allow both parties to grow within the UK marketplace,” said Nicklas Margård, Tornum’s chief executive officer.
Tournum’s management team feels that this acquisition is a logical step to deepen their business relationship further and develop the UK market together, having worked closely with JWI for many years.
“I see this as a positive step for all parties involved, and I believe it generates benefits for our customers. We can now provide a wider range of products and offer Tornum’s and JWI’s combined knowledge of grain handling solutions to our customer base,” Margård.
JWI’s director, Charles White, also expressed optimism that the existing and new customers of the two companies will continue receiving the same excellent offerings from the companies following the acquisition.
“The two companies already share a secure foundation of trust and collaboration which will facilitate a smooth transaction into this new phase,” White remarked.
The two companies feel that the acquisition will allow for a combination of product lines and a sales network that will allow both parties to grow within the UK marketplace.
“Our customers can continue to rely on the same exceptional level of expertise and service they have come to rely on over the last 50 years but with the added strength and resources derived from being the market leader,” White added.