Teqnion AB has signed an agreement to acquire all outstanding shares in Midland Special Fasteners Ltd.
Midland Special Fasteners or MSF, based in Walsall, is a as the name suggests focused on supplying special fasteners for challenging applications. MSF was born out of the simple idea of solving customers' difficult challenges when it comes to finding special fasteners no matter if the application is holding together components in outer space, engines in supercars or keeping submarines intact. The application knowledge of the founders Mitch, Bob and David and the trust that the company have earned through consistently delivering according to expectations have earned the company a solid reputation and deep relationships with customers. The trio will continue to support MSF and Mitch will continue as the CEO of the company.
Midland Special Fasteners average revenue for the last 3 years have been north of £2M with robust margins. Note that Midland Special Fasteners was spun out of its sister company Midland Components so historical numbers are depressed.
"Already at the first meeting we felt that Teqnion would be a great forever home for MSF. Daniel and Johan shares our values and understands what makes our company successful. We look forward to growing the business together with Teqnion. There is much left to do!" says Mitch Lane, CEO at MSF.
"We are happy to welcome MSF into the Teqnion family. Mitch and his team have the mindset, relationships in place and industrial expertise to supply its customers with the right type of special fasteners for very niche applications, and it will be very fun to grow the business together." says Johan Steene, CEO of Teqnion.
The acquisition is effective immediately and is not expected to have any significant effect on Teqnion's 2025 fiscal year financials.
Read more https://www.msfasteners.co.uk/ and at www.teqnion.se.
For more information, please contact:
Johan Steene, VD, phone: +46 73 333 57 33, E-mail: johan@teqnion.se
Daniel Zhang, CXO, phone: +46 721 555 695, E-mail: daniel@teqnion.se
Teqnion AB
Dalvägen 14,
169 56 Solna
Phone: 08-655 12 00,
E-mail: info@teqnion.se
About Teqnion
Teqnion AB is an industrial group that acquires stable niche companies with good cash flows to develop and own with an eternal horizon. The subsidiaries are managed decentralized with support from the parent company. We operate in the majority of industries with leading products, which gives us good resistance to economic fluctuations as well as solid industrial know-how. For us, it is central to focus on profitability and long-term sustainable business relationships. Teqnion's shares TEQ are traded on the Nasdaq First North Growth Market.
Redeye AB is Certified Adviser.
