Axel Johnson International strengthens presence in Nordic Power Transmission Market
Axel Johnson International is strengthening its mechanical power transmissions business in the Nordics by acquiring five companies with a combined turnover of EUR 40 million from the Finnish SKS Group. The companies are market leading in their niches, offering premium products and services to the Nordic machine and equipment-building industry.
The transaction, signed on December 18, includes the companies SKS Control Oy, SKS Mechatronics Oy, SKS Mekaniikka Oy, SKS Sweden AB and SKS Tehnika OÜ. Products include mechanical power transmission components, such as gears and motors, belts and linear motion components. Most of their sales are in Finland. The companies also operate in Sweden and Estonia.
When the transaction is finalised, the five companies will operate as their own group under the SKS brand name within Axel Johnson International’s Industrial Solutions business group.
“This acquisition is a perfect match with our growth strategy of acquiring market leading distributors with a high degree of technical know-how and competence in mechanical power-transmission solutions,” says Ola Sjölin, Managing director of Industrial Solutions. “It is also in line with Axel Johnson International’s aim to be technical solution providers.”
The acquisition is expected to create opportunities to introduce new components to other companies within Axel Johnson International, broadening the offering in power transmission products and complementing the current product portfolio.
Axel Johnson international’s strategy is to find well managed companies and develop them together with the existing management. As part of this, Jouni Kaukonen, currently the managing director of Mechatronics and Mekaniikka, will become CEO of the combined SKS group.
“I am very excited about the opportunity to continue to develop SKS Group in an international environment with industrial owners who have a long-term perspective on business,” Kaukonen says. “We have been a privately owned group for years and to come into a family owned group with a clear growth agenda gives an opportunity to nurture what we have created but also give new opportunities.”
For further information, please contact:
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
Project Manager M&A, Strategy & Communication
Axel Johnson International is a privately owned Swedish industrial group of more than 90 companies in 25 countries, with combined annual sales of EUR 750 million. We drive business development and growth through a long-term approach to ownership in strategic niche markets, primarily technical components and solutions for industrial processes. Axel Johnson International is organised in four business groups: Fluid Handling Solutions, Industrial Solutions, Lifting Solutions and Transport Solutions. www.axinter.com