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Axel Johnson International acquires IOW Group

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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:

 

Viktor Skargren
Project Manager Strategy & Communication
+46705355601
viktor.skargren@axinter.com

 

Axel Johnson International is a privately owned Swedish industrial group of more than 90 companies in 25 countries, with combined annual sales of €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: Cargo Securing Solutions, Fluid Handling Solutions, Industrial Solutions and Lifting Solutions.

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