Momentum Group has today signed an agreement to acquire 100 percent of the shares in Actuated Solutions Limited (ASL), an established specialist in valve automation in the UK market. The acquisition marks Momentum Group's entry into the UK, with ASL becoming part of the Flow Technology business unit.
"The acquisition is strategically important for us as we take our first step into the UK market. ASL has a strong position within valve automation, built on long-standing customer and supplier relationships with a clear focus on quality and service. The company shares a significant part of its supplier base with our group company BPS and thereby complements our existing operations well, while also providing a platform for continued growth in the UK," says Ulf Lilius, President and CEO of Momentum Group.
Actuated Solutions Limited was formed in 2003 and provides solutions in valve automation, with a particular focus on electric and pneumatic actuators. The company has established a strong position as a specialist in the UK, supported by long-term partnerships with both valve and OEM companies. ASL has a unique relationship with manufacturers such as HKC and Quifer. Its customers are primarily active in water, process industry, HVAC and oil & gas. ASL has an annual turnover of approximately GBP 3.2 million with 9 employees and operates from Bognor Regis on the south coast of England, where it has warehouse, office, assembly and testing facilities.
"ASL fits very well with our strategy within Flow Technology. It is a well-managed company with a stable business, solid profitability and a large installed base that generates recurring business. I have followed the company and come to know the founders over nearly 20 years during my time as CEO of BPS. Together with the founders, we see good opportunities to further develop the business, broaden the offering and capture the market potential in the UK," says Torbjörn Börjesson, Head of Business Development Flow Technology (former CEO and owner of BPS).
"We are incredibly proud to be selected as Momentum Group's first acquisition in the UK. Over many years, we have built ASL into a strong and independent player within our sector, with a focus on quality, technical expertise and close customer relationships. Becoming part of Momentum Group is a natural next step, allowing us to continue developing the company together with an industrial owner with a long-term perspective and strong expertise within our field," says Paul Slaughter and Chris Hickey, founders and owners of Actuated Solutions Limited.
Closing takes place immediately and the acquisition is expected to have a marginally positive impact on Momentum Group's earnings per share during the current financial year.
For further information please contact:
Ulf Lilius, President and CEO
Phone: +46 (0)8-92 90 00
Niklas Enmark, CFO
Phone: +46 (0)70-393 66 73
niklas.enmark@momentum.group
About Momentum Group
Momentum Group develops and acquires successful, sustainable companies. The group currently consists of some 35 companies that offer sustainable products, services and solutions for customers in industry and industrial infrastructure in the Nordic region. We are an active, long-term owner and combine the proven acquisition model and effective corporate governance of a 100-year-old industrial corporate culture with clear goals for sustainable development and long-term profitability at our companies. The group generates revenue of approximately SEK 3.1 billion and have some 900 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group.
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