Finland based Duell acquires Dutch MX specialist distributor TMV
Duell Oyj, the fast-growing Finland based distributor and brand owner, has continued its acquisition programme with the addition of Techno Motor Veghel BV (TMV) to its international network.
A well-known Dutch importer and distributor of motocross and off-road products, TMV was founded in 1976 and is based in the so-called motocross hub of the Netherlands, Veghel, where it is surrounded by numerous well-known motocross tracks and motorcycle industry vendors.
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| TMV CEO Herman Zijerveld (left) with Jarkko Ämmälä, CEO of Duell Oyj (center), and Klaas Biermann (right), the owner of TMV. |
As a leading distributor of powersports products in the Nordic aftermarket, Duell has leveraged its strength in northern Europe to embark on an ambitious expansion plan in recent years.
In 2019, Duell bought the previously Swedish owned Halvarssons and Lindstrands apparel brands. After deciding to establish its own UK Duell subsidiary, it added Netherlands based IGM Trading and Grand Canyon GmbH in 2021, followed by acquiring the French Tecno Globe accessory business.
Duell's growth was dramatic even before the recent additions to its network - in 2020 the company reported sales growth from € 25m in 2013 to € 60m in 2020. Last year saw another significant step in Duell's history as the company was listed on the Helsinki Nasdaq First North Growth market at the end of the year and reports that "Duell's first quarter as a listed company got off to a good start as the company reported strong revenue growth".
Jarkko Ämmälä, CEO of Duell Oyj, commented on the TMV acquisition, saying: "We are very pleased with the acquisition we have just completed, which will again strengthen our position in Europe, this time especially in the motocross market.
"TMV is a very strong and well-known player in motocross, so the transaction is very important for us. We are actively seeking growth in the European market and are now one step closer to achieving our goal. All TMV employees are moving to Duell, and we are delighted to have more top talent joining us. Together, we will accelerate the growth of our company in the Benelux region and elsewhere in Europe.”
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| The TMV acquisition follows a
series of expansion moves, including a decision to open its own
subsidiary in the UK, the acquisition of IGM Trading (also Netherlands),
followed by Tecno Globe in France and a Finland stock market listing at
the end of 2021. |
For TMV, previously a sister company of off-road foam air filter specialist Twin Air, CEO Herman Zijerveld commented: "We are looking forward to the future collaboration, and are proud to be part of the Duell success story.
"By combining Scandinavian strength with Dutch commercial expertise, we can make the most of this collaboration. Duell's determined attitude fits perfectly with TMV's ambitions, so I am confident that together we will grow faster than we ever imagined and better serve our customers, partners and employees."
www.duell.fi
www.tmv.nl
