Algol celebrates 130 years as a family business: The most attractive partner for industry and healthcare

News 15.5.2024

The story of Algol goes back to 1894, when German-born entrepreneur Albert Goldbeck-Löwe founded an agency business in Helsinki to supply Finnish industry with metals, industrial chemicals and building materials. Since then, the family business has grown into an international group that is known especially for its versatility, quality and excellent partnerships.

Magnus Bargum and CEO Alexander Bargum emphasise that Algol continues to develop with continuity and long-term ownership in mind.

Algol’s operations began in 1894 by importing industrial goods, such as metal products, technical components and chemicals. In 1899, the company’s founder Albert Goldbeck-Löwe recruited his cousin Ludolf Bargum, who became a shareholder in 1914. The Bargum family has owned Algol ever since. The Group has been led by Alexander Bargum, great-grandson of Ludolf Bargum, since 2012.

We see history as a resource, but we focus on the future, and our future looks promising,” emphasises Algol CEO Alexander Bargum.

The 130-year-old family business continues to develop with continuity and long-term ownership in mind. Algol’s subsidiaries import, market and manufacture products for industry and the healthcare sector. In addition, Algol Group companies offer services related to their business areas, such as design services, tailored delivery solutions, and installation, maintenance and training services. As a versatile and multi-branch partner to international trade, Algol promotes a sustainable future.

“Our goal at Algol is to remain relevant by building success for our partners. In honour of our 130 th
anniversary, I would like to express my warm thanks to all our employees, customers and partners for
the past years. Let’s continue the good cooperation in the future as well,” says Alexander Bargum.

"Algol’s business has been developed on a long-term basis, and changes have always brought new
opportunities. The strengths of a family business are its solid identity and team spirit,” says Magnus
Bargum, Algol CEO from 1985 to 2012.

Read more about Algol’s history.