Indutrade acquires Sverre Hellum & Sønn – supplier of diamond tools
Indutrade has on 4 February signed an agreement to acquire all of the shares in the Norwegian company Sverre Hellum & Sønn AS (https://www.hellumdiamant.com), with annual sales of approximately NOK 65 million.
Sverre Hellum & Sønn is a supplier of diamond tools and associated equipment to the Norwegian market. Diamond tools are used in a wide range of industries such as infrastructure, on- and off-shore construction and geological prospecting (e.g. mining). The offering also includes machine equipment to industries in which diamond tools are used, with a focus on the construction industry. Additionally, the company is active on the micro trenching market – a technology used to install fiber optic for broadband networks. Sverre Hellum & Sønn has 13 employees and is based in Oslo and Tønsberg, Norway.
The closing takes place today and Sverre Hellum & Sønn will be included in Indutrade's Business Area Industrial Components.
The acquisition is expected to have a marginally positive impact on Indutrade's earnings per share.
Stockholm, 4 February 2020
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Phone +46 8 703 03 00
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade’s business is distinguished by
- High-tech products for recurring needs
- Growth through a structured and tried-and tested acquisition strategy
- A decentralised organisation characterised by an entrepreneurial spirit
The Group is organised into eight Business Areas: Benelux, DACH, Finland, Flow Technology, Fluids & Mechanical Solutions, Industrial Components, Measurement & Sensor Technology and UK. Indutrade’s sales totalled SEK 16,848 million in 2018, generating an operating profit of SEK 2,087 million before amortisation of intangible assets. Indutrade is listed on Nasdaq Stockholm. Please read more at www.indutrade.com