OMV-INDOIL joins the AVK Group
The acquisition of the Croatian-based valve company will complement AVK’s product programme for the industrial segments including the energy sector. 24-02-2021
The AVK Group has acquired majority shareholding in OMV-INDOIL. The Croatian-based valve company with headquarter 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 vales 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.
The acquisition forms a strong partnership between OMV-INDOIL and the AVK Group, which both companies can benefit strongly from.
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.
The AVK Group welcomes OMV-INDOIL and looks forward to a successful partnership.
OMV offers products into the industries of oil and gas, power generation, processing, marine, water treatment and offshore.
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