Momentum Group acquires Indoma – strengthens its offering in industrial components
Momentum Group has today, through its subsidiary Momentum Industrial, signed an agreement to acquire 100 percent of the shares in Indoma AB. Indoma specialises in products for installation and maintenance for industry, and through the acquisition, Momentum Industrial becomes a locally broader player in industrial components.
“Acquisitions are a central part of Momentum Group's growth strategy, and we are focused on implementing acquisitions at several levels within the Group. Subsidiaries that meet our profitability targets, with at least 45 percent EBITA/WC, have the opportunity to use acquisitions as a tool to strengthen their offerings or expand geographically. Momentum Industrial's acquisition of Indoma is an add-on acquisition that provides a stronger platform for growth in the Jönköping region,” says Ulf Lilius, President and CEO of Momentum Group.
“Indoma has extensive experience and solid expertise in the same product areas as Momentum Industrial. Through the acquisition, we strengthen our offering and our local presence in industrial components. Together, we will be an even stronger partner for industrial customers in the region," says Jimmy Norlinder, MD of Momentum Industrial.
Indoma specialises in products for installation and maintenance for industry. They have been part of Swedish industry for over 75 years and offer a wide range of products, including mechanical seals, o-rings, hydraulics, pneumatics, bearings, industrial hoses and belts. The company collaborates with leading suppliers such as Loctite, Camozzi and Dunlop Hiflex. With a shop and hydraulic workshop in Jönköping with 3 employees, the company has a strong local foothold and a turnover of approximately SEK 10 million per year. Indoma will become part of Momentum Industrial and will be run as an independent subsidiary and competence center under the current management.
"Becoming part of Momentum Group gives us a unique opportunity to develop Indoma further and take the next step in our journey. Through Momentum Industrial's extensive network and resources, we can strengthen our local presence and improve our offering to customers. We look forward to creating even greater value for our customers together," say Mikael Brandt and Mikael Danielsson, owners of Indoma.
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.
