Swedish group storms in for Tornado takeover
Tornado Group, the Warwickshire provider of animal fencing products, has been sold to Sweden’s Storskogen
Storskogen, an investment company, acquires and manages well-managed and profitable small and medium-sized enterprises within areas such as industry, trade and services in the Nordic countries, DACH and the UK.
Tornado is Storskogen’s third acquisition in the UK.
Headquartered in Bidford-upon-Avon, Warwickshire, and with a purpose-built manufacturing facility in Cumbria (Millom), the UK market represents Tornado’s largest at 70%, however the company has considerable and growing export sales in Ireland and the rest of Europe and sees the US as a significant growth opportunity.
Revenue and EBIT over the 12-month period to the end of November 2021 was approximately £34.7m and £5.2m respectively.
Tornado has around 100 staff.
The existing management team will remain in the business led by managing director Kenny Campbell and supported by director of operations Jonathan Miller and financial director Lynn Hall who will remain in their existing senior roles within the company.
Kenny Campbell, managing director of Tornado Group, said: “When I joined Tornado in 1976 it was a small fence contracting business based in Scotland. There have been many changes since then as it grew into the market leader of agri fencing in the UK with significant export sales. I am delighted to be partnering with Storskogen as they clearly share our culture, values and long-term approach; we are ambitious for further success but only when it is achieved in a sustainable and ethical way. I am proud of what we have achieved so far and excited about the future as part of the Storskogen group.”
Fredrik Bergegård, EVP and head of business area, industry, said: “We are extremely impressed with Tornado, in particular their long history and tradition as well as their capacity to innovate and deliver premium products. Tornado and its fantastic employees is a perfect partner for Storskogen, and we look forward to supporting their expansion into new markets.”
The deal was led from Alantra’s Birmingham office by partner Simon Peacock. He was supported by Mike Falzon and Tom Nash.
Peacock said: “Tornado has established itself as the UK’s leading provider of premium branded animal fencing products. As a family-owned business founded over 50 years ago, finding the right partner for the company and its employees was paramount for the owners. Storskogen’s unique model provides Tornado with a bridge between private ownership and a new long-term owner that offers an exciting opportunity to help the business continue to prosper while maintaining its brand and culture.”
Tornado was also advised by The Wilkes Partnership with a team comprising Gareth O’Hara, senior partner and Helen Smart.
O’Hara said: “We are pleased to have acted for the stakeholders at Tornado on its sale to Storskogen. We have been working closely with Kenny for over a decade, so supporting him on this new partnership has been exciting.
“We have seen Tornado Group grow throughout this period under Kenny’s management. The company invests heavily in its loyal and dedicated workforce and so partnering with Storskogen is certainly the next right step for the company, as it will allow Tornado to expand its horizons while preserving the brand and what it stands for.”
Jerroms worked with Tornado during this period and provided accountancy and taxation support on the sale.