What Combiwood does

Combiwood is a privately held Estonian vertically integrated woodworking group operating 17 wholly-owned subsidiaries across the timber value chain, from forest procurement and sawmilling through finger-jointing and glulam component production to finished interior products such as mouldings, door and window frames, wall and ceiling panels, and edge-glued worktops. Founded in 2005 in Helme, Estonia, the group employs over 1,000 people across manufacturing sites in Estonia and a sales and logistics footprint covering Scandinavia, the Benelux region, France, the United States, and export markets in Japan, China, Korea, the Middle East, and Egypt. The company is led by Chairman Janek Antipin and CFO/Board Member Ullabritt Murumaa, and reported combined annual revenue of approximately EUR 276 million following the 2025 acquisition of AS Toftan (up from EUR 210 million pre-acquisition). Combiwood generates revenue primarily through one-time B2B sales of sawn timber, wood components, and finished interior products, reaching customers via a combination of dedicated Scandinavian sales companies, wholesale and retail distribution, and direct sales to window, door, and furniture manufacturers. Its go-to-market is sales-led and channel-driven, anchored by long-standing B2B relationships, FSC and PEFC-certified sustainable sourcing, and approximately 60,000 km of mouldings produced annually used in more than 100,000 construction projects per year.

Name

Combiwood

Legal name

Combiwood Grupp OÜ

Website

https://combiwoodgroup.ee

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Wood Products Manufacturing

NAICS

Sawmills (321113), Cut Stock, Resawing Lumber, and Planing (321912), Wood Window and Door Manufacturing (321911), Engineered Wood Member Manufacturing (321215), Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers (42331), Wood Product Manufacturing (321)

SIC

Sawmills & Planting Mills, General (2421), Millwood, Veneer, Plywood, & Structural Wood Members (2430), Forestry (800), Lumber & Wood Products (No Furniture) (2400)

akta.pro primary industry

Wood Remanufacturing (Mouldings, Millwork Blanks, Cut Stock) (IMAMABAI)

akta.pro secondary industries

Sawmilling & Lumber Production (IMADADAA), Glulam (Glued Laminated Timber) Manufacturing (IMAMACAE), Hardwood Lumber Sawmills (IMAMABAB), Industrial Roundwood Logging (Sawlogs & Veneer Logs) (AFAMABAA)

Keywords

• Sawn timber production
• Wood components manufacturing
• Profiled mouldings production
• Edge-glued panels
• Vertically integrated forestry

Headquarters

HQ city

Valga

HQ country

Estonia

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Sawn Timber Sales: Sale of pine and spruce sawn timber. Pine timber is primarily used in group's own factories while spruce is sold on the open market to industries including moulding producers, and window and door manufacturers.
2. Wood Components: Finger-jointed, laminated, and glulam components for door, window, stair, furniture, and moulding industries. Produced from group's own sawmills and external sources.
3. Finished Interior Products: Mouldings, door and window frames, wall and ceiling panels, edge-glued boards, and other finished wood products sold to wholesale, retail, and directly to manufacturers.
4. Timber Trading and Sourcing: Combiforest handles timber procurement by buying forest material and felling rights, organizing felling operations and timber transport for internal supply.
5. Logistics and Distribution: Sales and logistics companies (5 companies) handle distribution across Scandinavia and export markets.

Go-to-market motion3 records

Distribution channels7 records

Marketing channels4 records

Core offering

Combiwood is a vertically integrated woodworking network that produces sawn timber (pine and spruce), finger-jointed and glulam wood components, profiled mouldings, door and window frames, wall and ceiling panels, and birch and pine edge-glued boards and worktops. Products are manufactured across an owned network of sawmills, component factories, interior goods factories, and sales and logistics companies in Estonia, Scandinavia, France, and Benelux, and are sold to manufacturers, wholesale and retail outlets, and DIY chains worldwide.

Product overview

Combiwood is a vertically integrated network of woodworking companies offering a comprehensive portfolio of wood processing products. The company operates across the entire value chain from timber sourcing and sawmilling to finished interior products. The product portfolio includes: sawn timber (pine and spruce from AS Toftan, Combimill Sakala, and Combimill Reopalu); wood components (finger-jointed and glulam products from Vincom, Puit-Profiil, and Leigola); and finished interior products (mouldings, door/window frames, wall panels from Combiwood OÜ and Vindor). The group also includes specialized companies like Ecobirch for edge-glued panels, Combiforest for timber sourcing, and regional sales/logistics operations across Scandinavia, Benelux, and France.

Differentiator

Problem solved

Functional benefit

Brands

• Ecobirch: Edge-glued panels from birch and pine
• Vindor
• Leigola
• Puit-Profiil
• Vincom
• Toftan
• Combiforest
• Combimill
• Combiwood Barkevik
• Combilink
• Combistock

Products and services

• Pine and Spruce Sawn Timber Sawn timber produced from FSC and PEFC certified sustainably managed pine and spruce forests. Pine timber is used internally by the group's factories; spruce timber is primarily sold on the open market to industries including moulding producers and window and door manufacturers. Sold B2B to construction, moulding, and component manufacturers.
• Wood Components (Finger-Jointed and Glulam) Finger-jointed and glulam wood components for further processing, sold to industries ranging from moulding producers to window, door, stair, and furniture manufacturers. Produced from the group's own sawmills and external sources.
• Mouldings Profiled mouldings produced from pine and hardwood (oak, ash, beech), available in painted and non-painted variants. Approximately 60,000 km of mouldings are produced per year across the group. Sold through wholesale and retail outlets.
• Door and Window Frames Door and window frames produced for Scandinavian and central European manufacturers, made from finger-jointed pine wood components. Includes window sills and stair components.
• Wall and Ceiling Panels Profiled, primed, and painted ceiling and wall panels made from finger-jointed pine wood, designed to accelerate construction processes. Sold through wholesale and retail outlets.
• Edge-Glued Boards and Worktops Birch and pine edge-glued boards and worktops highly valued on the US market, with monthly production of approximately 100,000 units. Sold to global DIY retail chains and wholesale distributors.
• Hardwood Products (Oak, Ash, Beech) Solid oak, ash, and beech products including approximately 1.2 million door thresholds and 3 million metres of hardwood moulding annually, plus furniture components and interior design elements. Produced by Leigola OÜ in Viljandi, Estonia, for prestigious residential and commercial spaces.
• Glulam Components for Windows and Doors Glulam components (approximately 40,000 m³ per year) from pine for window and door production, sold primarily to Scandinavian manufacturers. Produced at Puit-Profiil AS in Põltsamaa, Estonia.
• FSC/PEFC Certified Finger-Jointed and Glulam Components Finger-jointed and glulam components from pine and spruce, certified to FSC and PEFC standards, for door, window, stair, furniture, and moulding industries. Produced at Vincom OÜ in Põltsamaa, Estonia.

Quantifiable outcome

• Products used in over 100,000 construction projects annually
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core and supporting.

• MakorcoreTechnology or Integration · 1 January 2010Italian machinery manufacturer specializing in longitudinal painting and coating equipment. Makor has been a long-term equipment supplier to Combiwood since approximately 2010. The partnership includes continuous collaboration on machine optimization and upgrades, with Makor adapting equipment to Combiwood's specific needs. Combiwood has helped Makor develop their product by providing feedback from practical use, and their painting lines have been upgraded from 60 m/min to 160 m/min through joint optimization efforts.
• IriscorpsupportingStrategic or Co-development PartnerForestry company that purchases mature pine from forests, harvests trees, and delivers required assortment to Combiwood's sawmills. Part of the raw material sourcing ecosystem.
• Paint ManufacturerssupportingTechnology or IntegrationPaint producers collaborate with Combiwood on formulation adjustments to match paint chemistry, solvent mixtures, and drying times to specific production lines and operating speeds for optimal coating quality.

Scale indicators12 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Stora Enso: Finnish-Swedish forest products giant with operations spanning sawn timber, engineered wood, and wood-based building solutions across Europe. Comparable to Combiwood across sawmilling, components, and downstream wood products, but operates at vastly greater scale and with broader diversification into pulp, paper, and biomaterials.
• UPM-Kymmene: Finnish forest industry major with timber, plywood, and engineered wood businesses alongside forestry, energy, and label materials. Overlaps with Combiwood in Nordic sawn timber and wood components while operating at significantly larger scale across diversified product lines.

Direct peers

• Binderholz: Austrian family-owned vertically integrated wood processing group combining sawmills, glulam/profiled timber, and finished building products. Closely matches Combiwood's vertical integration model from sawmill to component/finished products and serves overlapping DACH and broader European construction markets.
• Setra Group: Swedish sawmilling and wood products company producing sawn timber, components, and finished wood products primarily for Scandinavian and European construction customers. Directly comparable to Combiwood's Scandinavian-facing operations and the Toftan/Combimill sawmilling footprint.
• Pfeifer Group: Austrian family-run timber group with sawmills producing sawn timber and engineered wood products (CLT, glulam) for construction applications. Directly comparable to Combiwood's combination of sawn timber production (Toftan) and engineered wood components (Puit-Profiil glulam).
• Mayr-Melnhof Holz: Austrian integrated wood processing company operating sawmills, planing facilities, and downstream wood products for European construction. Matches Combiwood's vertical integration of sawmilling, planing, and finished interior products serving European builders.
• Hasslacher Group: Austrian sawmill and engineered wood (CLT, glulam, sawn timber) producer serving European construction markets. Comparable in business model (sawmill + engineered wood + components) and in European construction customer base to Combiwood's integrated network.
• Bergs Timber: Swedish-Baltic sawmill operator with Nordic and Baltic production serving European wood-product customers. Highly comparable to Combiwood's Toftan and Combimill sawmilling operations and Nordic-Baltic wood supply chain footprint.

Regional players

• Klausner Group: Large European sawn timber producer with primary sawmills focused on softwood lumber and integrated wood products. Comparable to Combiwood at the upstream sawmill level (similar in scale to Toftan + Combimill) but with less downstream finished-product integration.
• Lemeks Group: Estonian vertically integrated forestry and wood processing group operating timber harvesting, sawmilling, and wood products manufacturing primarily in Estonia and the Baltics. Strong regional peer to Combiwood given shared Estonian forestry base and Baltic sawmilling/processing orientation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/combiwood-group

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Combiwood