SMS Equipment, a Canadian dealer of heavy machinery, has entered the European market by acquiring Suomen Rakennuskone, a Finnish distributor of construction and mining equipment.
The deal, whose financial terms remain undisclosed, marks SMS Equipment’s first operation on the continent.
It adds to the company’s existing businesses in Alaska and Mongolia.
SMS Equipment president and chief executive officer Robin Heard said: “The acquisition of Suomen Rakennuskone Oy represents an important milestone in our international growth.
“Through the expansion, we’re able to extend our depth of expertise developed in global mining and construction segments, and work with Suomen Rakennuskone Oy to further develop these industries in Finland. Together, we will evolve our global capabilities and strengthen the value we deliver to all our customers.”
Suomen Rakennuskone, established in 1992 and headquartered in Pirkkala, offers heavy equipment sales, maintenance, spare parts, training and technical support throughout Finland.
The company has branch locations in Kempele, Kuopio, Vantaa and Kevitsa. It holds exclusive rights to distribute Komatsu mining and construction machinery in Finland.
In addition to the construction sector, Suomen Rakennuskone provides equipment and services for the country’s mining industry, which includes significant activities in nickel and gold extraction as well as reserves of cobalt and lithium.
The acquisition allows SMS Equipment to introduce its experience from international mining markets into Finland while working alongside Suomen Rakennuskone’s established client base.
Suomen Rakennuskone managing director Jared Collins said: “SMS Equipment’s expertise and best practices have been honed in some of the world’s most demanding mining environments. With this acquisition, we’re combining the global experience with Suomen Rakennuskone Oy’s deep local knowledge and longstanding customer relationships.”
“SMS Equipment enters Europe with acquisition of Suomen Rakennuskone ” was originally created and published by World Construction Network, a GlobalData owned brand.
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