Momentum Group acquires PW Kullagerteknik – expands its product offering in ball bearings
Momentum Group has today, through its subsidiary Agera Industritillbehör AB (Agera), signed an agreement to acquire 100 per cent of the shares in Peter Wiechert Kullagerteknik AB (PW Kullagerteknik), a specialist in ball and rolling bearings. 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.
“PW Kullagerteknik has 50 years of experience in ball and rolling bearings, primarily in high-precision bearings, so-called spindle bearings. For a long time, their range has included most of the well-known brands on the market. The company's wide network of contacts all over the world makes it possible to find exactly what customers are looking for. The acquisition strengthens our position in the field, and together we will have an even stronger offering to our customers," says Johan Swedmark, CEO of Agera.
PW Kullagerteknik was founded in 2006 by Peter Wiechert. The company is a specialist in ball and rolling bearings, but also offers other industrial supplies such as seals and transmissions to a broad customer base in the industry. The business is located in Skarpnäck outside Stockholm with warehouse and office, have annual sales of approximately SEK 12 million with 3 employees.
PW Kullagerteknik will be run as an independent subsidiary and competence centre under the current management of Agera and in collaboration with other companies in the Industry business area – in accordance with Momentum Group's philosophy of decentralised business responsibility.
"We will do our utmost to continue to develop the close relationship with our customers, something that will now be facilitated when we, together with Agera, can strengthen our offering and service level," says Peter Wiechert, founder and owner of PW Kullagerteknik.
