Founded in 1953, the FNB is one of Sweden's operators who manufactures and installs custom timber cranes on heavy transport vehicles. The company's range of services covers the design of superstructures, component manufacturing, equipment, sales, and aftermarket services. The company's key customers are Swedish timber truck entrepreneurs, who ensure that the forest industry operates in wood maintenance. FNB employs 26 people, and its operations are located in Floby, Sweden. The company's net sales in 2020 were some 91 million SEK and it’s EBITDA was c. 10 million SEK.
"FNB has a long-term partnership whit its customers and has significant and advanced expertise in the design, equipment and construction of customized timber car superstructures. The growth and development of the company's operations are supported by the positive prospects of the Nordic Forest industry and growing wood use volumes. This acquisition is an excellent complement to our Heavy Machinery business area and brings new expertise to our concrete industry and earth construction operations through its assembly and manufacturing operations. With the transaction, we will continue the expansion into the Swedish market started at the beginning of the year 2021 and create conditions for growth in the Nordic countries," says Kari Nerg, Ceo of Boreo.