Norway-based IKM Testing has acquired 70% of the shares in Alfa Solution AS, a distributor of shrink wrap materials, tape, installation supplies and heat tools for the industrial, construction, transport, and marine markets. Alfa Solution has now changed its name to IKM Alfa Solution AS.
"Alfa Solution company is very active in the South and East of Norway and also has a broad international client base. IKM Alfa Solution AS primarily supplies the defense, maritime, aviation, wind power, transportation, and offshore industries," IKM Testing said.
"The company’s markets and customer base will strengthen IKM Testing AS's existing market position.," the buyer said. The acquisition is part of IKM Testing AS’s investment strategy in the field of preservation.
"IKM Testing AS is engaged in major assignments with ongoing development projects in the offshore industry and has long-term framework agreements in place with operating companies and contractors on the Norwegian continental shelf. The company has taken major steps forward within the field of preservation in recent years. With the acquisition of Alfa Solutions AS, IKM Testing AS has firmly established itself as a market leader in delivering complete preservation solutions," IKM added.
In addition to product sales, IKM said there were several ongoing projects where complementary resources from IKM Testing AS and IKM Alfa Solution AS can be combined.
"These projects include cover and weather protection of the process module P2 (Equinor’s Johan Sverdrup Phase 2) in Haugesund for Aibel. For this project, environmentally friendly recyclable flame retardant shrink wrap is used," IKM Testing added.