Momentum Group acquires Lindström Group's PPE business in Finland

Udgivet den 05-03-2019  |  kl. 12:45  |  

TOOLS Finland Oy, a subsidiary in the Momentum Group, has today signed an agreement to acquire Lindström Group's personal protective equipment (PPE) business in Finland. The acquisition further strengthens TOOLS' position as a leading supplier of tools, PPE and related services to Finnish industry. The acquired business generates annual revenue of approximately MEUR 6.2 with healthy profitability and five employees. The acquisition will be conducted as a conveyance of assets and liabilities.

The acquired PPE business offers a wide range of products for personal protection, such as gloves, fall protection, footwear, helmets, protective clothing, etc. - with the aim of improving occupational safety in the workplace. The customers include industrial, construction, service, retail and transportation companies as well as local municipalities in Finland. The product offering includes both proprietary and external brands. The business offers easy restocking (shelfing) service as well as standard ordering service.

"The acquired business is well-established, with good customer relationships and dedicated employees with a high level of expertise in the personal protection area," says Ulf Lilius, President & CEO of the Momentum Group. "The acquisition will enable TOOLS to further strengthen its service level, know-how and availability for new and existing customers - and we anticipate good opportunities for further development and growth."

"When deciding to divest our PPE business, it was critical for us to find a strategic, long-term partner that is dedicated to develop the PPE business further and committed to deliver the service to our current and future customers," says Juha Laurio, President & CEO of Lindström Group. "Divesting the operations to a well-established player will make it possible to continue offering a high level of service for our customers in connection with Lindström workwear service as well as secure positive development opportunities for the employees."

Closing is scheduled to take place in the beginning of April 2019. The acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during the 2019/20 financial year.

Stockholm, 5 March 2019

Momentum Group AB (publ)

For further information, please contact:
Ulf Lilius, President & CEO - Tel: +46 10 454 54 70
Mats Karlqvist, Head of Investor Relations - Tel: +46 70 660 31 32 / e-mail: mats.karlqvist@momentum.group

This information was submitted for publication on 5 March 2019 at 13:45 CET.

Momentum Group is a leading reseller of industrial consumables and components, service and maintenance to professional end users in the industrial and construction sectors in the Nordic region. The Group has annual revenue of approximately SEK 5.9 billion and approximately 1,700 employees. Momentum Group AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.momentum.group.

Attachment

190305 MMGR PR Acquisition of PPE Finland Eng

\Hugin

Udgivet af: NPinvestordk

Seneste nyheder

17:49 Europa/lukning: Polsk modehus steg på godt nyt - schweizisk gamer faldt på CFO-exit
17:45 Joe Biden diskuterer Gaza-nødhjælp med Israels Netanyahu
17:26 Tro på amerikansk rentesænkning i juni svinder ind
17:21 Shipping: Baltic Dry-indekset stiger 1,9 pct. til 2419 point
17:05 Mandagens aktier: GN tog stikket hjem på let positiv dag - DSV og Mærsk endte i bunden
17:00 Mandagens obligationer: Rolig dag på markedet for statspapirer
16:46 Alstom til tops i Europa: Analytiker tror at "det værste er overstået"
16:07 EU-landene er enige om milliarder i militærhjælp til Ukraine
14:49 USA/åbning: Teknologitungt indeks stormer frem - Nvidia, apple og Alphabet i plus
14:30 USA/ÅBNING: S&P 500 +0,8%, NASDAQ +1,2% OG DOW JONES +0,4%
14:09 USA/tendens: Plusser præger handelsstart - fokus på techselskaber
13:51 Valuta: Centralbankmøder holder valuta i fastlåst greb
13:33 Bestyrelsesmedlem i ISS køber aktier for næsten 159.000 kr.
13:28 Europa/aktier: Polsk modehus i plus og schweizisk gamer på nedtur i grønt marked
11:53 Schweizisk GN-konkurrent dykker til bunds i Europa: Finansdirektør stopper uventet
11:52 Aktier/middag: GN i fokus efter analyseros - modgang til B&O efter nedjustering
11:47 Obligationer/middag: Renteplus frem mod amerikansk centralbankmøde
11:44 Medie: Elon Musks SpaceX skal opbygge netværk af spionsatelitter for USA
11:06 Inflationen i eurozonen aftog helt som ventet til laveste niveau i knap to år
10:52 Novos supersællert overhalet af rival i USA