Momentum Group has today, through its subsidiary Etab AB, signed an agreement to acquire 80 percent of the shares in Logicsystem Pneumatik AB, a specialist in components and systems for industrial automation. Logicsystem will become a subsidiary of Etab, which is part of the Specialist business unit within the Industry business area.
"Logicsystem is a well-managed specialist company that is an excellent fit with Etab's operations. The companies have complementary product offerings and customer relationships, and the acquisition will broaden Etab's offering while adding valuable expertise in industrial automation. This creates good opportunities to develop the businesses together," says Anders Larsson, Head of the Specialist business unit at Momentum Group.
Founded in 1973, Logicsystem supplies components and systems for industrial automation, with a focus on pneumatics, screw technology and linear motion technology. The company offers a broad range of products and automation solutions, as well as technical expertise in design, documentation and product customisation. Its customers are primarily within Swedish industry. The company operates from Borås, Sweden, and generates annual turnover of approximately SEK 20 million with five employees.
"We see significant opportunities to further develop Logicsystem as part of Etab and Momentum Group. By combining our specialist expertise and customer relationships with Etab's broad offering, we will be well positioned to strengthen our market position and create additional value for our customers," says Roland Kjellin, Managing Director and co-owner of Logicsystem.
Closing is expected to take place at the end of November, and the acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during 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 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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