Momentum Group has today signed an agreement to acquire 100 percent of the shares in Limo Molstyria AB, a specialist in motion control and energy-absorbing industrial components. Limo becomes part of the Specialist business unit within the Industry business area.
"Limo is a well-established company with a high level of technical expertise and a broad offering in motion control and energy absorption. The company complements our existing operations well and strengthens our position in niche industrial components. We also see potential for collaboration with other companies within the Group, especially in rubber-based products," says Anders Larsson, Head of Specialist within Momentum Group.
Limo is a specialist in motion control and energy-absorbing industrial components for industrial customers. The company offers a broad range of products such as industrial shock absorbers, vibration insulation, gas springs, seals, bushings, bellows cylinders and special pneumatics, as well as customised solutions through in-house design and manufacturing. Limo is the exclusive distributor for several world-leading manufacturers to Swedish industrial customers and has strong technical know-how that enables solutions beyond the standard product range. The operations are based in Norrköping, Sweden and has annual turnover of approximately SEK 30 million with 10 employees.
"Becoming part of Momentum Group is a natural next step for Limo. We gain a strong and long-term owner that can support our continued development, while enabling us to continue delivering customised solutions with a high level of technical expertise. We look forward to continuing to develop the business together with the Group," says Fredrik Olsson, CEO and owner of Limo.
Closing will take place immediately and the acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share in the current financial year.
For further information, please contact:
Ulf Lilius, President and CEO
Tel: +46 8 92 90 00
Anders Larsson, Business Unit Manager
Tel: +46 70 266 00 42
anders.larsson@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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