Investment AB Latour (publ) acquires, through Nord-Lock International AB, the US company Superbolt Inc and the Swiss company P&S Vorspannssysteme AG. Nord-Lock assumes ownership immediately.
Superbolt and P&S Vorspannsysteme offer high-quality products for critical bolting applications since 1984. The two companies, which in total employ 120 people, are located in Pittsburgh, US and St Gallenkappel, Switzerland. The products are used in heavy industries such as offshore, energy and mining. The companies have operated as two separate units, but offer the same products on their respective markets.
The acquisitions will bring together two of the most innovative and trusted bolt securing technologies, and result in a wide range of products for demanding applications.
"We want to offer our customers world leading solutions for bolt securing, based on high-end products and competence," says Mikael Helmerson, Managing Director of Nord-Lock International. "This is a big day, not only in the history of Superbolt and P&S Vorspannsysteme but also for Nord-Lock and we have very high expectations for our new common future."
Robert Steinbock, President of Superbolt continues "The synergies between Nord-Lock and Superbolt are the best we have seen of all the companies that we have ever considered joining with". Together with Allan Steinbock, Vice-President, Robert is excited about the potential for the whole company and the ability of the group to now meet all bolt securing needs. The General Manager at P&S, Roman Germann, concludes "Nord-Lock and Superbolt are active in the same sectors and our products are often used in the same challenging conditions. But in my mind there is no competition between our respective products, and it adds a lot of customer value to have both solutions under the same roof".
The management teams of all three companies agree that each will benefit from the acquisitions. "Gathering our combined bolt-securing competence into one organization will make us unique in the industry. The fact that Nord-Lock is owned by the Latour Group gives the companies a stable base and financing from which to continue the successful growth" says Mikael Helmerson.
With the acquisition the Nord-Lock Group employs a total of 320. The company is represented in 16 countries with a network of sales partners and distributors around the globe. Read more on www.nord-lock.com. The acquired units have an annual turnover rate of just over 200 million and a very good profitability. The acquisition will increase Latours net debt position by approximately 300 MSEK.
Investment AB Latour is a mixed investment company with an investment portfolio with a market value of approximately 14 billion SEK (includes SäkI) and wholly owned industrial and trading operation with an accumulated turnover of approximately 7 billion SEK. Read more about Latour on www.latour.se.
Gothenburg, August 4, 2011
Investment AB Latour
Jan Svensson, President and CEO
Information can be obtained from:
Henrik Johansson, CEO Latour Industries International AB, tel. +46 705 17 66 01 or
Mikael Helmerson, CEO Nord-Lock International AB, tel. +46 707 53 27 76