Axel Johnson International acquires IOW Group
Axel Johnson International has signed an agreement to acquire a majority of the shareholdings in the IOW Group of companies, with presence in Poland, Bulgaria, Czech Republic and the Baltic countries. The IOW Group, with revenues of EUR 27 m and approximately 130 employees, is a leading distributor and service provider of mobile drivetrain systems, hydraulics, cooling systems and filter technologies in Central and Eastern Europe.
IOW Group was established in 1993 and has a long-term relationship with its customers and suppliers. The customers are mainly Original Equipment Manufacturers (OEMs) within Mechanical Engineering, Construction Equipment, Machines in Mining and Agriculture as well as Railway Equipment.
The current owners of the IOW Group will remain as minority shareholders and will continue to lead the businesses going forward.
“To become a part of Axel Johnson International will allow us to continue to develop the product and service offerings in our home markets. IOW´s experience and technical know-how, combined with Axel Johnson International´s financial strength and long-term perspective, will provide a strong support to our future development, this will guarantee also for our customers and suppliers a continuation and a stable perspective for the future”, says Mr Jürgen Dückert, Chairman and current majority owner of the IOW Group.
With the acquisition of the IOW Group, Axel Johnson International strengthens its’ European market position as distributor and service provider of mobile drive trains solutions in Europe. The IOW Group will become part of Axel Johnson International’s business group “Industrial solutions” and a sister company to Trans-Auto AB, which is active in distribution and service of mobile and marine drivetrains in the Nordic markets and in Russia.
“IOW group, the market leader in their geographic markets in Central and Eastern Europe fits very well with Axel Johnson International and Trans-Auto AB. The acquisition of the IOW group provides a platform for expanding our activities in Central and Eastern Europe. We look forward to growing our business together with the IOW team” says Martin Malmvik, President and CEO of Axel Johnson International.
The transaction is expected to close later in Q3 2017, awaiting necessary approval by relevant government authorities.
For further information, please contact:
- Martin Malmvik, CEO and President, Axel Johnson International, +46 (0)8 453 77 14, firstname.lastname@example.org
- Hans Glemstedt, Head of Strategy and M&A, Axel Johnson International, +46 (0)8 453 77 41, email@example.com
- Ola Sjölin, Managing Director, Industrial Solutions, +46 (0)8 453 77 25, firstname.lastname@example.org
- Jan Brattberg, Managing Director, Trans-Auto, +46 (0)8 554 240 24, email@example.com
- Jürgen Dückert, Chairman of IOW Group of companies, + 49 -661 777071, Juergen.firstname.lastname@example.org
- Ryszard Mazurek, CEO, IOW Trade, +48 – 22 512 56 60, email@example.com
- Andrzej Karpiak, CEO, IOW service, +48- 76 852 21 17, Andrzej.firstname.lastname@example.org
- Krassen Milev, CEO, IOW Bulgaria, +359 2 99 28 443, email@example.com
Project Manager Strategy & Communication