Momentum Group acquires IntentiusGruppen – strengthens position in industrial components
Image Intentiusgruppen
Momentum Group acquires IntentiusGruppen – strengthens position in industrial components
Momentum Group has today signed an agreement to acquire 100 percent of the shares in IntentiusGruppen, consisting of Intentius Industrikomponenter AB and Tryggve Olson Normdetaljer AB. IntentiusGruppen, a leading specialist in advanced machining and industrial components for Swedish industry, will become part of the Specialist business unit within the Industry business area.
"IntentiusGruppen is a well-managed and profitable group with a leading position in its market niche, with a high level of technical expertise and long-standing customer relationships. The companies complement our existing Specialist operation well and strengthen our position. We see good opportunities to continue developing the business," says Anders Larsson, Head of Specialist within Momentum Group.
IntentiusGruppen is a leading specialist in advanced machining and the supply of industrial components, serving a broad customer base of professional end-customers across a wide range of industrial sectors. Intentius Industrial Components offers contract production of components in aluminium, steel, stainless steel, castings, plastic and rubber, with particular expertise in complex components combining multiple materials. Through Tryggve Olson, the group can also offer its customers machine components, industrial pumps and electric motors, among other products. IntentiusGruppen operates from two modern and highly automated production facilities in Växjö, Sweden, and has an annual turnover of approximately SEK 75 million with some 30 employees.
"After more than 30 years as an entrepreneur, it feels absolutely right for IntentiusGruppen to take the next step. With a new long-term owner in Momentum Group, we will be able to continue our strong development in advanced, automated contract production and assembly. They have a deep understanding of our business, our customers and the industry in which we operate. We share the same view of quality, long-term commitment and entrepreneurship, providing the best possible conditions for developing the company and continuing to create value for our customers. I look forward to continuing to lead the business as CEO and, together with Momentum Group, taking the next step in our development," says Ola Esbjörnsson, CEO and owner of IntentiusGruppen.
Closing will take place immediately and the acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during the current financial year.