The Dutch construction group Royal BAM Group took over Houtindustrie Stam & Landman, the manufacturer of timber cladding element, at the beginning of March. No details have been disclosed about the purchase price. According to BAM, Houtindustrie Stam & Landman last generated annual sales revenue of around €20m with a total of 90 employees.
According to information from Ruud Joosten, CEO of Royal BAM Group, the acquisition is part of the 2021-2023 strategy “Building a sustainable tomorrow” presented last year. One objective is to be able to offer customers sustainable solutions faster than at present by further integration of prefabricated modules into construction processes and to reduce the financial risk in projects.
In its business year 2020, Royal BAM Group had generated sales revenue of €6.809bn and an adjusted pre-tax result of €34.3m with 17,966 employees. Besides corona-related problems, the group also attributes the reductions in sales revenue and result to the announcement given in July 2020 of its intention to cease its activities outside Europe (BAM International) due to an absence of positive business prospects and to concentrate on its existing core markets in the Netherlands, Belgium, the UK, Ireland, and Germany.
