Axel Johnson International strengthens position in Norwegian power transmission market
The Nomo Group, a member of Axel Johnson International’s Industrial Solutions business group, has entered the Norwegian market for bearings and mechanical power transmission products through the acquisition of Rotek AS on July 2.
“This accomplishes a strategic objective we’ve had for some time,” says Ola Sjölin, Managing Director, Industrial Solutions. “By acquiring Rotek, Nomo strengthens its well-established position in the Nordic market even further and opens up additional growth opportunities for the group in the Norwegian market.”
Rotek supplies bearings, power transmission, seals and related services, combined with strong technical knowledge. The company is located on the Norwegian west coast in Ålesund and has an annual turnover of approximately EUR 2.4 million. Founded in 1989, Rotek has developed strong relationships with both customers and suppliers and has a wide product portfolio including the private label RTK.
“Rotek’s product offering combined with their strong technical knowledge, is completely in line with Nomo’s ambition to operate as a technically skilled solution provider,” says Mattias Jaginder, CEO of Nomo.
Ola Erlandsen, former owner and founder of Rotek, to stay on as managing director, sees new opportunities joining Nomo: “Becoming a part of the Nomo Group and Axel Johnson International, applying the Nomo business model and portfolio, will allow us to develop and strengthen our concept in the Norwegian market even further.”
For further information, please contact:
Hans Glemstedt, Head of Strategy and M&A, Axel Johnson International,
+46 (0)8 453 77 41, hans.glemstedt@axinter.com
Ola Sjölin, Managing Director Industrial Solutions, Axel Johnson International,
+46 (0)8 453 77 25, ola.sjolin@axinter.com
Viktor Skargren
Head of Communication / Project Manager Strategy and M&A
viktor.skargren@axinter.com
Axel Johnson International is a privately owned Swedish industrial group of more than 100 companies in 25 countries, with combined annual sales of EUR 790 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
