Karnell acquires Haco
Karnell Group AB (publ) ("Karnell") today announces the acquisition of the two sister companies Haco Tellus AB and Haco Rehabservice AB (together "Haco"). Haco, a third-generation family business, is a niche supplier specializing in industrial wheels as well as wheels and spare parts for wheelchairs and rollators with associated reconditioning services. Haco has sales of approximately SEK 70 million with good profitability and will be part of Karnell's business area Product Companies. The acquisition is expected to have a positive effect on Karnell's earnings per share on an annual basis.
"We are pleased to welcome Haco to Karnell and look forward to supporting the company in their continued development. We appreciate the strong market position Haco has managed to create over the years, which is based on a competitive product offering combined with excellent customer service. With a strong positioning in an attractive niche, Haco has many of the characteristics of a typical product company that fits well into our portfolio of leading industrial technology companies," says Petter Moldenius, CEO of Karnell.
Haco is based in Åkersberga and offers over 1,000 different types of industrial wheels for a wide range of applications with customers in a variety of segments. The wheels are used by customers in their production as well as spare parts, and through a wide range at competitive prices, they help the customer find the right wheels for their respective application. In addition, Haco also offers customer-specific conveyor systems and a range of moving products. With a warehouse in Sweden, Haco ensures fast deliveries and personalized customer service. The company has approximately 2,000 customers and is active mainly in the Swedish market.
The owners and siblings, Ulf Jansson and Helen Månsson, comment: "For us, it has been of utmost importance to find the right owner that we can trust handing over our business to. In Karnell we have found a new home for Haco. With Karnell's experience, we are convinced that they can contribute to the company's long-term development and continued growth."
Karnell has acquired 100% of the shares with a performance-based earn-out that extends for two years. Ulf and Helen will continue in their current roles for at least 12 months until a new CEO has been recruited.
For further information, please contact:
Petter Moldenius, VD Karnell Group AB (publ), tel: +46 8 545 891 00
Or visit our website: www.karnell.se
