Momentum Group acquires Swerub – strengthens its position in industrial rubber
Momentum Group has today signed an agreement to acquire 100 per cent of the shares in Swerub AB. Swerub is the market leader in Sweden in advanced custom-made rubber products for industry. 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. Part of the purchase price is paid through the transfer of repurchased Class B shares to the seller.
“Acquisitions are an important part of Momentum Group's growth strategy. The acquisition of Swerub strengthens our position in industrial rubber, an important product area for us already today. Swerub's own manufacturing, problem-solving and warehousing capabilities guarantee delivery precision and the ability to offer unique solutions in a growing market,” says Anders Larsson, Head of Specialist Companies within Momentum Group.
Swerub is a family business founded in 1975 that since its inception has focused on the production of moulded rubber parts such as vibration dampers, gaskets, seals and glands. Today, Swerub is the market leader in Sweden for advanced custom-made rubber products and also offers a wide range of standard components for fast delivery for industrial customers. The company has two production facilities in Värmland, Sweden; one in Sunne and one in Ekshärad, has annual sales of approximately SEK 40 million and some 25 employees.
Swerub will continue to operate as an independent subsidiary and competence center under the current management within the Components business area (the Specialist area) in accordance with Momentum Group's philosophy of decentralized business responsibility.
"We look forward to being part of Momentum Group, with whom we share many values. Accuracy, precision and quality are our core values that, together with our knowledgeable staff, give us a competitive advantage. Sustainability is an important part of the business for us as well – we are ISO-certified and work actively with sustainability and resource consumption to meet all the industry’s requirements,” says Thomas Nilsson, CEO and owner of Swerub.
Part of the purchase price, SEK 2.5 million, will be paid through the transfer of repurchased Class B shares to the sellers. The number of shares and the price per share are determined by the volume-weighted average price of the company's Class B share on Nasdaq Stockholm during the ten trading days immediately preceding the closing date.
