Momentum Group acquires Finnish Helsingin Kumi – strengthens its position in industrial rubber
Momentum Group has today signed an agreement to acquire 100 per cent of the shares in Helsingin Kumi Oy. Helsingin Kumi is a leading specialist in customized rubber products and rubber profiles for industrial customers in Finland. The 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.
“Company acquisitions are an important part of Momentum Group's growth strategy. The acquisition of Helsingin Kumi is the first standalone acquisition we make in Finland. In addition, the acquisition strengthens our position in industrial rubber, an important product area for us already today," says Anders Larsson, Head of Specialist at Momentum Group.
Helsingin Kumi is a Finnish company founded in 1951 that has since its inception focused on the sale of customized rubber products and rubber profiles. The products are custom-made in the company's own workshop and delivered to industrial customers, primarily in Finland. The operations are conducted from Helsinki and have annual sales of approximately SEK 25 million with seven employees.
Helsingin Kumi will continue to operate as an independent subsidiary and centre of excellence under the current management of the Components business area (the Specialist area) in accordance with Momentum Group's philosophy of decentralised business responsibility. Tuomas Mäkinen, who is the newly appointed Country Manager Finland at Momentum Group, will take on as CEO of Helsingin Kumi.
“Helsingin Kumi is a well-established company that has served Finnish industry with their strong focus on industrial rubber products for decades. The acquisition ties Momentum Group more into the Finnish industrial market and is the first step in our journey going forward,” says Tuomas Mäkinen, Country Manager Finland at Momentum Group.
“We look forward to being part of Momentum Group. With its clear focus on strong niche companies in industrial products Momentum Group is a natural new owner for us. I am convinced that Helsingin Kumi will develop well within the group into the future,” says Ismo Nikola, owner of Helsingin Kumi.
