Telko Expands to Western Europe Through Acquisition of French Distributor

Aspo Plc announced that its subsidiary Telko is expanding its lubricants operations in Western Europe through the acquisition of distribution businesses from Petrus S.A. The deal includes entities in France, Belgium, Luxembourg, and the Netherlands, strengthening Telko's position in the European industrial lubricants market.

The acquired businesses, including Optimol Tribotechnik SA, Optimol Netherlands BV, Optimol France SAS, and Greenfluid SAS, are described as leading distributors of premium industrial specialty and high-performance lubricants, as well as metalworking fluids. This expansion is expected to create a platform for further growth in the region.

Telko's lubricants business generated a net sales of EUR 50.5 million in 2023. The enterprise value for the acquired businesses is EUR 13.7 million. The purchased companies have a combined annual net sales of EUR 18 million with a run-rate EBIT of EUR 2.2 million.

"This acquisition is a key milestone in Telko’s strategy focusing on high value-added products and growth in Western Europe," stated Mikko Pasanen, Managing Director of Telko. Rolf Jansson, CEO of Aspo Group, added that the ambition is to build Telko into a leading European player in the distribution of specialty products.

Telko plans to accelerate its growth through acquisitions across its business areas and believes it can increase the pace of future M&A activities. The company also aims to strengthen its market share in existing markets through organic growth.