Momentum Group acquires Sikama – strengthens its position in gas and fluid handling
Momentum Group has today signed an agreement to acquire 60 per cent of the shares in Sikama AB, a specialist in gas and fluid handling for industrial customers in Sweden. Sikama will be part of the new Infrastructure business area under the Flow Technology business unit.
“Sikama is a good strategic fit for the Flow Technology business unit, which focuses on critical functions in processes and to society where media such as fluids, steam and gas play a central role. With its specialist expertise and its broad range of products and services, Sikama today is a full-service supplier for many of its customers in gas and fluid handling. We see great growth potential with increased demand for Sikama's skills and products,” says Martin Gyllix, Head of Flow Technology at Momentum Group.
Sikama was founded in 1968 and has since its inception sold products for handling gases and fluids. With its specialization in gas and fluid handling for the industry, Sikama is a total supplier of system solutions, products, services and control. The company has a high level of product expertise in pumps, flow meters, filters, hoses and couplings and offers a wide range of products through established supplier relationships. Sikama has a broad customer base in the Swedish industry, divided into OEM customers, retailers and end customers. The business is located in Skogås outside Stockholm with sales and service centre, has an annual turnover of approximately SEK 55 million and 20 employees.
Sikama will continue to be operated as an independent subsidiary and competence centre under the current management within the Infrastructure business area (business unit Flow Technology) in accordance with Momentum Group's philosophy of decentralised business responsibility.
“I am proud that Momentum Group will be Sikama's new owner as we share a common view of values such as quality, the environment, a long-term approach and value creation. Having previously transferred part of the business to the current management, it now feels natural to sell my shares to Momentum Group, which I am convinced is the right owner to continue to develop our company successfully,” says Benny Mark, principal owner and Chairman of Sikama.
“I look forward to becoming part of Momentum Group. Together, we can further develop our offering by adding more value-creating services and product areas for Sikama in the future,” says Åsa Bergström, CEO and representative of the remaining minority owners at Sikama.
Closing is expected to take place in April 2024 following approval from the Swedish Inspectorate of Strategic Products. The acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during the current financial year.
