Axel Johnson International strengthens offering in the Finnish mechanical power transmission market
Nomo, part of Axel Johnson International’s business group Power Transmission Solutions, strengthens its offering in the Finnish market by the acquisition of JokiLaakeri, effective 14 June.
“The addition of JokiLaakeri is part of our long-term strategy for geographical expansion and stronger market offering in power transmissions and related services in the Nordics and the rest of Europe,” says Ola Sjölin, Managing Director, Power Transmission Solutions.
Founded in 1991, JokiLaakeri is a highly regarded multi-brand bearing distributor in the Finnish market with a comprehensive product portfolio, high level of technical expertise and extensive service offering. The company has around 25 employees with annual sales of approx. EUR 18 million. JokiLaakeri has a leading market position in Tampere, the key industrial region in Finland, with branches in Lahti, Vaasa and Oulu, complementing Nomo’s geographical presence in the Finnish market.
“The acquisition of JokiLaakeri is fully in line with our strategic objective to take the leading position as technical solution provider within the fields of bearings, power transmissions, seals and related services in the Nordic market. JokiLaakeri becoming a part of Nomo is a great fit in terms of employees, products and geography,” says Mattias Jaginder, CEO of Nomo Group.
“Being part of and Nomo and Axel Johnson International will allow us to improve our business and strengthen our offering in Finland. I am convinced that Nomo is the best possible owner for JokiLaakeri’s employees, customers and suppliers,” says Jori Paatsjoki, CEO of JokiLaakeri.
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 Power Transmission Solutions, Axel Johnson International,
+46 (0)8 453 77 25, firstname.lastname@example.org
Head of Communications
Axel Johnson International is a privately owned Swedish industrial group of more than 110 companies in 27 countries, with combined annual sales of EUR 960 million. We drive business development and growth through a long-term approach to ownership in strategically selected niche markets, primarily technical components and solutions for industrial processes. Axel Johnson International is organised in five business groups: Fluid Handling Solutions, Industrial Solutions, Lifting Solutions, Power Transmission Solutions and Transport Solutions. www.axinter.com