Hultafors Group - owner of Snickers Workwear, Solid Gear, Toe Guard, Dunderdon and Wibe Ladders - has acquired Swedish protective wear business Puvab AB from Vestitus Holding AB.
The acquisition strengthens Hultafors Group's protective wear presence in the workwear business.
Established in Borås in 1989, Puvab specialises in protective wear for the energy and utility business, as well as flame resistant safety wear for other industries. Puvab develops and produces functional and certified high-quality garments with innovative design and functionality for work in demanding conditions. In 2013, Puvab established the brand Eripio Wear which targets ambulance and rescue personnel. Puvab has an annual turnover of SEK 42 m (£3.8m) and 49 employees.
"To provide products which ensure our end users higher productivity and safety is core in the Hultafors Group strategy," said Ole Kristian Jødahl, CEO at Hultafors Group AB. "Having Puvab with its leading products in our portfolio complements our offering within protective workwear. This means we can provide more value to our existing customers and reach new segments and customers."
Gustav Örn, owner of Vestitus Holding AB, added "Puvab has seen a healthy growth in 2016 and the prospects for the future are very bright. Joining Hultafors Group will give Puvab an even better position for growing, in particular on the international market."
Hultafors Group is a business area within Investment AB Latour.
