Momentum Group has today signed an agreement to acquire 100 percent of the shares in Polymore AB, which develops and manufactures proprietary products for the dissolving and dosing of liquid polymers for applications including water and wastewater treatment and industrial processes. Polymore will become part of the Flow Technology business unit within the Infrastructure business area.
"Polymore is a strategic fit with Flow Technology and provides us with further exposure to water treatment, an area where we see good long-term growth opportunities. The company has a clear niche offering with proprietary, well-proven products that combine a compact design with high operational reliability and short lead times for customers. We also see natural opportunities for collaboration with several of our existing companies within the business unit," says Gustaf Johansson, Head of Flow Technology at Momentum Group.
Polymore is a second-generation family-owned business with roots dating back to the mid-1980s and has operated in its current form since 1999. The company develops and manufactures proprietary products for the dissolving and dosing of liquid polymers, primarily for water and wastewater treatment and marine applications. Its customers include OEMs and system suppliers that integrate Polymore's products into their own solutions, as well as end customers. Polymore has a large international installed base and also provides spare parts and service for its products. The operations are based in Bålsta, Sweden and has annual turnover of approximately SEK 25 million with six employees.
"I took over Polymore from my father and have since continued to develop the business with a focus on our proprietary products and close customer relationships. As we now take the next step, it has been important for us to find a long-term owner that understands our business and can provide Polymore with the right conditions for continued development. As part of Momentum Group, we gain access to both expertise and a broader network, while continuing to build on what has made Polymore successful. We look forward to developing the company together and reaching more customers and markets," says Fredrik Mannström, CEO and co-owner of Polymore.
Closing takes 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
Gustaf Johansson, Head of Flow Technology
Tel: +46 70 874 01 28
gustaf.johansson@momentum.group
About Momentum Group
Momentum Group develops and acquires successful, sustainable companies. The group currently consists of some 40 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 3.2 billion and have some 950 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group.
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