With effect as per 1 July 2022, the Danish stainless steel distributor Damstahl has acquired 51% of the company Metalservice Horsens A/S. Metalservice one of Denmark’s largest distributors within red metals and aluminium. With this acquisition, the future operation of Metalservice will be run by Damstahl together with Metalservice’s German owners, the Niemann family, who are also founders and owners of German Niemet, Germany’s largest aluminium distributor also stocking red metal and running a service centre in Bremen.
The seller of the 51% of Metalservice, Peter Gammelby, decided at the beginning of the year to sell the company he has built up over decades together with his competent employees.
– Selling to Damstahl feels very natural. Here I am ensured that my company continues to be run with the same family values that I have always embraced myself. With the combination of Niemet’s service centre and Damstahl’s ability to grow, Metalservice has a really good strategic starting point, says the former Metalservice owner Peter Gammelby.
Damstahl’s CEO, Michael Lund has no doubt that the acquisition of Metalservice forms a milestone for Damstahl.
– With the acquisition of Metalservice we ensure our customers access to one stop shopping in stainless steel, red metals and aluminium. With an increased focus on product range, the addition of further competences, and a massive digital investment, we will position Metalservice in the entire Nordic market, he states.
When asked why choosing aluminium and red metals, the answer is clear:
– Customers want a strengthened alternative to the existing players in the market. Unlike stainless steel, there are very few suppliers in the aluminium market, particularly in Sweden and Denmark, and customers want to be able to choose their own supplier.
Why Metalservice, you might ask, and the answer is simple: with 15,000 tonnes in stock just a few hours’ drive from the Danish border, and an impressive service centre, Niemet is a really interesting partner. At the same time, Metalservice has an extremely well-functioning warehouse in Horsens – only half an hour’s drive from Damstahl headquarters, which adds the possibility of huge synergies in the distribution of the products when combined with the approximately 50,000 tonnes of stainless steel that Damstahl already distributes in the Nordic region.
– And finally, with Metalservice’s extremely professional approach to employees, customers and suppliers, it is all in all a perfect match, Michael Lund concludes.
When asked about the price of the acquisition, Damstahl’s CFO, Claus Bang Christiansen, replies that it is of course confidential.
– Of course, however, that such a well-run and well-functioning company does not come for free. A number of investments are expected in the coming period to expand the product range and services, as well as massive investments in digitalization. But the foundations for growth are there, and with the honesty that characterizes Metalservice, we can quickly and efficiently gear up the company, Claus Bang Christiansen continues.
Peter Gammelby will remain being CEO of Metalservice until a successor is found, and the company will remain being 100% independent with its current identity and profile.