Monday, April 22, 2024
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Duell buys more MX market share

As a leading distributor of powersports products in the Nordic aftermarket, Finnish company Duell has leveraged its strength across northern Europe to embark on an ambitious expansion plan. Its latest acquisition is the Dutch off-road and MX hard parts specialist import and distribution company Techno Motor Veghel BV (TMV), a sister company to off-road foam air filter specialist Twin Air.

Readers may remember that, in 2019, Duell bought the Swedish-based Halvarssons and Lindstrands apparel brands. After establishing the UK Duell subsidiary, it added Netherlands based clothing and accessories wholesaler IGM Trading and its Grand Canyon brand in 2021, followed by acquiring the French Tecno Globe accessory business.

Commenting on the TMV acquisition, Jarkko Ämmälä, CEO of Duell Oyjsaying said: “We are very pleased with the acquisition we have just completed, which will again strengthen our position in Europe, especially in the motocross market.”

Shares in Duell were listed on the Helsinki Nasdaq First North Growth Market Finland at the end of 2021, and Nasdaq reports that “Duell’s first quarter as a listed company got off to a good start as the company reported strong revenue growth”.

Duell has a substantial war chest, and there may well be more acquisitions to come.


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