Alligo : Momentum Group acquires Minrox - strengthens its position in flow technology

English

Swedish

Published: 2024-06-10 11:24:00 CEST Momentum Group AB Investor News Momentum Group acquires Minrox - strengthens its position in flow technology Momentum Group has today, through its subsidiary Börjesson Pipe Systems AB (BPS), signed an agreement to acquire 100 percent of the shares in Minrox AB, a specialist in flow technology for challenging environments and extremely abrasive processes for industrial customers in Sweden. Minrox will be part of the Infrastructure business area under the Flow Technology business unit. "Minrox is a strategic fit for the Flow Technology business unit, which is focused on critical functions in processes and society where liquids, steam and gas play a central role. They have more than 30 years of experience in flow technology and serve customers who work in very challenging conditions and with extremely abrasive fluids. Minrox and BPS complement each other's product range and we have identified several natural synergies. I am convinced that with our competencies and structural capital, together we can help each other continue to grow and gain further market shares while maintaining profitability," says Torbjörn Börjesson, CEO of BPS. Minrox was founded in 2013 and is a specialist in flow technology for challenging environments and for liquids that are abrasive and aggressive. The company is the exclusive distributor in the Swedish market of Flowrox products (owned by Valmet since 2021) such as pinch valves, knife gate valves, hose pumps and pulse dampers. Minrox offers solutions for abrasive and corrosive installations in industrial process plants for customers in the mining and minerals, chemical, smelting, wastewater treatment plants, offshore, marine and food industries. The business is conducted from Huddinge and Motala and has a turnover of approximately SEK 34 million with the company's two founders as sole employees. Minrox will be operated as an independent subsidiary and competence center of BPS under current management in accordance with Momentum Group's philosophy of decentralised business responsibility. "We look forward to being part of Momentum Group and the new collaboration and business opportunities that will open up. Our watchwords are quality, efficiency and easy maintenance, where process economy is the result. Exactly what is the core of Momentum Group's business model," say Björn Gardelin and Nils-Olov Wigren, owners of Minrox. Closing will take place immediately 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 & CEO Tel: [phone] Niklas Enmark, CFO Tel: [phone] [e-mail] Ann-Charlotte Svensson, IR Tel: [phone] [e-mail] About Momentum Group Momentum Group develops and acquires successful, sustainable companies in the Nordic region through active ownership with decentralised profit and business responsibility. The Group consists of a number of companies that together constitute one of the Nordic region's leading suppliers of industrial components, industrial services and other related services for customers in industry and industrial infrastructure. What the businesses have in common is that they help make customers' operations easier, safer and more profitable by offering sustainable, long-life products and services with a strong local presence close to customers. The Group generates revenue of approximately SEK 2.5 billion and some 750 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group. Image Attachments Minrox Attachments: Momentum Group acquires Minrox - strengthens its position in flow technology.pdf This news release was distributed by Company News System, www.nasdaqomxnordic.com/news/marketnotices To subscribe on regulatory news from this company, go to the subscription page