The AVK Group is a global market leader in manufacturing valves and hydrants. Headquartered in Denmark, the Group is divided into three main business units: AVK Water, AVK Industrial, and AVK Advanced Manufacturing. With its extensive product range of valves, hydrants, and accessories, AVK Water serves the markets of water and gas supply, sewage, and fire protection. AVK Industrial offers a comprehensive program of valve solutions to customers engaged in water treatment, power generation, oil and gas, the marine industry, pulp and paper, mining, the chemical industry, air separation, and related industries. Advanced Manufacturing comprises companies supplying rubber, plastic, and metal components, both to companies within the AVK Group and external customers in various industries, including food, pharmaceutical, transport, and wind energy. With over 100 companies and 4,400 employees in 36 countries across Europe, the Middle East, North and South America, Australia, Asia, and Africa, the AVK Group has a global presence. In fiscal year 2019/2020, the Group generated EUR 807 million of sales revenue and EUR 67 million of operating profit, with improved operating margin compared to the previous year, supported by a range of initiatives to improve operational performance and strengthen the Group’s market position.
Headquartered in Croatia and also present in Bosnia and Herzegovina, OMV-INDOIL is a regional leader in manufacturing industrial valves used in oil and gas, energy, water and wastewater, shipbuilding, pharmaceutical, and other processing industries. Using own technology, designs, and production capacity, the Company designs and manufactures special valve solutions in accordance with customers’ requests, finding new technical solutions for valve operations and continuously developing proprietary valve designs. In addition to industrial valves manufacturing, OMV-INDOIL is one of the leading suppliers of fittings and complete pipeline material needed for construction and maintenance of infrastructural projects. In 2020, OMV-INDOIL generated EUR 12.6 million of sales revenue and EUR 1.65 million of EBITDA, with the greater part of its revenue coming from exports. The Company employs 130 people, of which 90 in Croatia and 40 in Bosnia and Herzegovina.
The AVK Group has acquired majority shareholding in OMV-INDOIL. The Croatian-based valve company with headquarters in Zagreb was founded 30 years ago by Mr. Tomislav Matkovic, who will continue in the business as a minority shareholder and as a key stakeholder in the development of the company in the new partnership with the AVK Group.
The family-owned company has manufacturing sites in Zagreb, Croatia, and in Capljina, Bosnia & Herzegovina, and produces mainly high-performance ball and butterfly valves in various materials. In addition, the company offers a range of special valves and project capabilities to local contractors.
OMV-INDOIL was looking for a reliable, strategic partner to build a stronger foundation for growth and to extend the sales network for global business and therefore, a partnership with the AVK Group was found to be a good match.
On one side, the partnership will strengthen OMV-INDOIL’s brand and position and will enable the company to benefit from the AVK Group’s global setup, strengthen the value proposition and ensure future growth.
On the other side, the AVK Group will gain access to a new domestic market and segment. In addition, AVK will be able to benefit from OMV-INDOIL’s strong brand name in the region, and the new products will complement AVK’s existing product programme within the industrial segment. Especially, through AVK’s InterApp sales organisations, there will be great cross-selling opportunities. OMV-INDOIL has an interesting growth in the energy sector and supplies to companies such as the Siemens Group, which also opens a new segment for the AVK Group with a lot of opportunities for further growth and development.