Alligo : Momentum Group acquires WH-service - strengthens its position in industrial technology

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Published: 2024-05-14 10:50:00 CEST Momentum Group AB Investor News Momentum Group acquires WH-service - strengthens its position in industrial technology Momentum Group has today signed an agreement to acquire 70 percent of the shares in WH-Service AB, a leading comprehensive supplier of rotating equipment primarily for the energy production sector in northern Sweden. WH-Service will be part of the Infrastructure business area under the Technical Solutions business unit. - WH Service operates in a sector where Technical Solutions already has a strong position through our companies Rörick and Mekano. With this acquisition, we also gain access to expertise in industrial seals and coatings - a new and exciting niche for us - which further strengthens our market position, says Ola Jönsson, head of Technical Solutions at Momentum Group. Founded in 1935, WH-Service is an engineering sales company that has been a partner to the industry in northern Sweden since its inception. The company represents and markets products from reputable suppliers such as Chesterton, Siemens, Grundfos, and Andritz. They have their own workshop and offer their customers a comprehensive concept for the renovation and upgrading of rotating equipment such as industrial gears, pumps, electric motors, fans, blowers, centrifuges, and hydraulic cylinders. They also have a sealing workshop where they renovate mechanical seals and polish surfaces. The operations are conducted from Sundsbruck outside Sundsvall and have annual sales of approximately SEK 35 million with 11 employees. WH-Service will continue to be operated as an independent subsidiary and competence centre under the current management within the Infrastructure business area (Technical Solutions business unit) in accordance with Momentum Group's philosophy of decentralised business responsibility. - Just like for Momentum Group, quality and sustainability are at the core of our operations and we share the view of 'value before price.' We have high standards for quality and environmental certification, delivery capacity, innovation, and energy thinking. Therefore, our products exclusively come from world-leading manufacturers and suppliers. Consistent quality thinking means that together with our customers we can achieve continuous production without interruptions, reduced maintenance costs, and optimal profitability, says Ludvig Brandström, CEO and owner of WH-Service. 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. For further information, please contact: Ulf Lilius, President & CEO Tel: [phone] Niklas Enmark, CFO Tel: [phone] [e-mail] Ann-Charlotte Svensson, IR Tel: [phone] [e-mail] About Momentum Group Momentum Group develops and acquires successful, sustainable companies in the Nordic region through active ownership with decentralised profit and business responsibility. The Group consists of a number of companies that together constitute one of the Nordic region's leading suppliers of industrial components, industrial services and other related services for customers in industry and industrial infrastructure. What the businesses have in common is that they help make customers' operations easier, safer and more profitable by offering sustainable, long-life products and services with a strong local presence close to customers. The Group generates revenue of approximately SEK 2.5 billion and some 750 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group. Image Attachments WH Service Attachments: Momentum Group acquires WH-service - strengthens its position in industrial technology.pdf This news release was distributed by Company News System, www.nasdaqomxnordic.com/news/marketnotices To subscribe on regulatory news from this company, go to the subscription page