Momentum Group acquires ETAB Industriautomation AB
Momentum Industrial AB, a subsidiary in the Momentum Group, signed an agreement today to acquire 70 percent of the shares in ETAB Industriautomation AB (“ETAB”). The acquisition of ETAB, one of the leading industrial automation companies in Sweden, further strengthens Momentum Industrial’s position as the leading supplier of industrial components and related services to Swedish industry. ETAB generates annual revenue of approximately MSEK 45 with favourable profitability and has nine employees. Closing is scheduled to take place in June 2019. ETAB is one of the leading industrial