Czech Servis Climax announces acquisition of Sweden’s Jaretegs Interiör AB

Servis Climax, the largest Czech manufacturer of window blinds and shutters bought a 75% share in Sweden’s Jaretegs Interiör AB company with a view to expanding on the Swedish market. The company financed the acquisition from its operating profit. Servis Climax Founder Miroslav Jakubec said the turnover of the Swedish company stood at some CZK 25 million; however, its main asset is knowledge of the local market. The acquisition price is to stand at some CZK 10 million, Mr Jakubec said, marking the price as “reasonable given the expectations we have”. Servis Climax exports more than 60% of its production to more than 31 countries, posting a turnover of more than CZK 1.2 billion.

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