(RTTNews) - Inwido AB (INWI.ST), a Swedish-based window and door manufacturer, on Tuesday announced that it acquired AGM Group Holdings Inc. (AGMH), a Slovenian window market with sales extending into Austria and Switzerland.
The company said that the deal marks a significant step in its expansion in Europe.
The operations are supported by six showrooms across Slovenia, and around 20% of sales are generated through export channels in Austria and Switzerland.
AJM Group was founded in 1990, is a family-owned company with annual sales of approximately 30 million euros and profitability in line with Inwido's average.
The company employs 200 people at its production facility and headquarters near Maribor on the Austrian border.
Its portfolio spans PVC, aluminum and wood products, serving both commercial and consumer customers, with most sales including installation services.
Inwido is 1.94% higher at SEK 152.40 on the Stockholm Stock Exchange.
On Monday, AGM Group closed trading 1.06% lesser at $2.7800 on the Nasdaq.
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