Telesteps sold to Hultafors
Telesteps, maker of telescopic ladders used by Pros, has joined global brands company Hultafors Group.
“We have been interested in acquiring Telesteps for a long time as we see their product portfolio of telescopic ladders as an excellent complement to our existing offering within ladders under our brand Wibe Ladders,” said Torbjörn Eriksson, president of hardware Europe in Hultafors Group.
“We are impressed by their strong market reputation and innovation capabilities and look forward to developing and growing the business further together,” said Eriksson.
Telesteps ladders are well-suited for professional end users with high requirements as they manage to combine the flexible telescopic operation of the ladders and platforms with excellent safety and durability, the company said.
“Together with Hultafors Group, I see a huge potential to accelerate our growth and continue the international expansion journey, so it was a natural choice to proceed with Hultafors Group as a long-term owner,” said Peter Heim, CEO for Telesteps.
The acquisition is part of Hultafors Group’s strategy to broaden its product portfolio with attractive product categories that meets the needs of professional end users.
Founded in 1975, Hultafors Group offers a portfolio of premium brands that concept, design and produce products and services that improve functionality, productivity and safety in the Pro’s workday. The company has teams in Europe and North America and is owned by Investment AB Latour.