INHUS, recognized as a longstanding supplier of ‘Design-build’ projects in Lithuania, Sweden and the United Kingdom, announces the signing of an agreement for the acquisition of TMB Element, one of the leading producers of concrete elements in Estonia. TMB Element also delivers products and services to Estonia, Latvia, Finland and Sweden. This acquisition not only aids the company’s ongoing expansion but also establishes INHUS’s presence in the Estonian and Finnish markets.
Audrius Tulaba, Chief Executive Officer of INHUS:
This strategic move opens the way for new opportunities within the Estonian and Finnish markets. With our extensive experience in ‘Design-build’ projects and the unique strengths of TMB Element, we are fully prepared to bring added value to our clients. This acquisition establishes a sustainable platform for growth in these markets, enabling INHUS to deliver design-build solutions and create lasting relationships with local partners and clients.
Jaanus Mumm, CEO of TMB Element:
TMB Element is a sustainable company with a long history and the company is an important employer at the local level. Cooperation with INHUS creates a good synergy for the development and expansion of TMB’s operations through greater additional technical competence in design, production and assembly of concrete elements to provide the best service in our region.
Jaan Luts, Supervisory board member of TMB Element:
„I am happy that our Tartu factory will be a part of a larger group with great ambitions for the future. Consolidation is necessary to compete better in changing environment and demanding economy. TMB Element will have even better possibilities for growth in export markets and development in general as a member of a larger group of companies.“
Simonas Bielskis, CEO of Concretus Group (majority stakeholder in INHUS):
„With this timely decision to invest into Estonia market and this transaction we will become present in all the Baltic states with either one or all of our core businesses: design – build building solutions, ready-mix concrete or pavers.“
In this transaction INHUS was advised by Swedbank Investment Banking as a financial advisor and Ellex Raidla as a legal advisor. TMB Element was advised by Cobalt as a legal advisor and Redgate Capital.