Press release
Bergman & Beving acquires SAFE TIME
Workplace Safety, a division within Bergman & Beving, has today entered into an agreement to acquire all shares in the company SAFE TIME, spol. s r.o. in Slovakia.
SAFE TIME manufactures and sells personal fall protection equipment and installed fall arrest systems. The company was founded in 2008 and has an annual turnover of approximately MSEK 10 with solid profitability.
"We have a long history of co-operation with SAFE TIME, and the company's established brand and deep product knowledge within safety at heights complements and strengthens the position for our business area Cresto Group", says Fredrik Valentin, Head of Division Workplace Safety at Bergman & Beving.
"We very much look forward to becoming a part of Cresto Group", says the seller Juraj Uherek. "SAFE TIME fits well into Bergman & Beving's business model, where entrepreneurial companies can continue to develop with support from a strong owner."
The closing is intended to take place in January 2021. The acquisition is expected to bring a marginal contribution to Bergman & Beving's earnings per share during the current fiscal year.
Stockholm, 23 November 2020
Bergman & Beving AB (publ)
For further information, please contact:
Pontus Boman, President and CEO, phone +46 10 454 77 00
Peter Schön, CFO, phone +46 70 339 89 99
The information was submitted for publication, through the agency of the contact persons set out above, at 15:30 CET on 23 November 2020.
Bergman & Beving owns and refines companies that develop and market strong brands for professional users in industry and construction, mainly in the Nordic region, the Baltic States and Poland. Bergman & Beving aims to enable successful product companies to take the next step and become leading brands in their categories. The Group currently has some 20 brands, about 1,000 employees and revenue of approximately SEK 4 billion. Bergman & Beving is listed on Nasdaq Stockholm. Read more on the company's website: www.bergmanbeving.com.
Attachment
- 20201123_Bergman_Beving_pressrelease_SafeTime_eng (https://ml-eu.globenewswire.com/Resource/Download/16ac4ad2-9742-40e5-9d1d-ec05747859e9)
