Vélar & Verkfæri ehf is a wholesale distributor established in 1942. Main product lines are locks and hardware, access control products, door and window automation, hand tools, power tools etc.
Wholesaling and retail was not a career that Mr Gudmundur Jonsson chose for himself as a young man. He trained as a carpenter and worked in that trade for a number of years, in Norway and Iceland.
As a result of an accident at work when he lost the full use of three fingers, Mr Gudmundur Jonsson decided to try a new line of business. He drew on contacts he had already made in Norway and travelled Widely in Scandinavia, Germany and the United Kingdom, acquiring franchise rights and business contacts.
In 1919 he set up Brynja, a handyman´s shop on Reykjaviks main Laugavegur shopping street, which is still thriving today.
Mr Gudmundur Jonsson sold the shop in 1937 and devoted his energies entirely to the franchise and wholesale business.
Mr Gudmundur Jonsson, together with his son Mr Gudmundur S. Gudmundsson and son-in-laws, founded Vélar & Verkfæri hf in 1942.
Originally, the companys aim was to run a factory, but its activities were restricted by the war. Factory operations were never realized, but instead the company became increasingly active in the field of wholesaling.
Mr Gudmundur Jonsson ran the company until his death, when his son, Mr Gudmundur S. Gudmundsson, took over.
The present managing director, the founders grandson Mr Sveinn H. Björnsson, was appointed in 1963.
The Board of Directors comprises Mr Björn V. Sveinsson (Chairman, the founder’s great-grandson), Mrs Elín M. Sigurdardottir and Mrs Brynja Baldursdóttir.