Balco acquires NMT Montageteknik i Norden AB
On March 2, Balco Group AB entered into an agreement on and completed the acquisition of all shares in the company NMT Montageteknik i Norden AB. Access has taken place today and the acquisition is consolidated from 1 March 2023. The acquisition is expected to contribute positively to earnings per share already in 2023.
NMT Montageteknik was founded in 2016 and offers turnkey contracts in balcony renovation. The customers consist mainly of tenant-owned housing associations. NMT is located in Sundsvall and has 11 full-time employees and a turnover of 49 MSEK during the most recent operating year with an operating result of 4,4 MSEK. NMT will continue to be run by the current management with Kenneth Wirmeskog as CEO. The acquisition strengthens and complements Balco Group's market position in northern Sweden.
”With NMT's solid knowledge and complete assembly organization, we can now strengthen our market position and our offer to the growing market in northern Sweden. We look forward to work with Kenneth and his team.” says Camilla Ekdahl, President and CEO of Balco Group, in a comment.
“It feels inspiring to be part of Balco's growth journey and I look forward to being part of developing and strengthening the brand further," says Kenneth Wirmeskog, CEO of NMT Montageteknik i Norden AB, in a comment,
Balco Group is financing the acquisition with its own cash. The shares are acquired from Wirmeskog Holding AB.
This disclosure contains information that Balco Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 02-03-2023 13:00 CET.
For more information, please contact:
Camilla Ekdahl, President and CEO
Tel: +46 70 606 30 32
camilla.ekdahl@balco.se
Michael Grindborn, CFO and Head of IR
Tel: +46 70 670 18 48
michael.grindborn@balco.se
Balco Group is the market leader in the balcony industry where we develop, manufacture, sell and are responsible for the installation of self-made open and glazed balcony systems. The group's customized products contribute to increased quality of life, safety and to an increase in value for the residents of apartment buildings, in addition, Balco Group's standardized glazing generates reduced energy consumption The company, which was founded in Växjö in 1987 and which has more than 500 employees, is a market leader in Scandinavia, and operates on several markets in northern Europe. Sales in 2022 amounted to 1,334 MSEK. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.