Investment AB Latour has, through its wholly owned business area Nord-Lock Group, acquired 100 % of Expander System Sweden AB, and associated subsidiaries in Sweden, USA and Germany.
The Expander Group was founded in 1986 and specializes in the design, manufacturing and sale of the Expander®System, an expandable pivot pin system, for heavy machinery and equipment. The company has 45 employees. The headquarters are in Åtvidaberg, Sweden. In the 12 months ending on the 30th of April 2016, the Expander Group reported a turnover of SEK 72 million.
The Expander Group has grown successfully over the years, and the product range has been developed to cover thousands of machine models. Main applications are pivotal joints within Mining, Construction, Forestry, Process Industry and Oil & Gas /Marine.
The Nord-Lock Group is specialized in innovative and secure bolting solutions. Technologies include the Nord-Lock wedge locking washers, the Superbolt mechanical tensioning systems, the Boltight hydraulic bolt tensioning systems, and now also the Expander System.
The Nord-Lock Group has sales and manufacturing subsidiaries in more than 20 countries across the globe. The turnover in 2015 was SEK 797 million.
Ola Ringdahl, CEO of the Nord-Lock Group, comments: “We are excited by the acquisition of Expander. The Expander System pivot pin technology fits perfectly in our portfolio of secure bolting solutions. We have many customers in common already today and I see interesting sales synergies. I am very pleased to welcome Expander into the Nord-Lock Group.”
The acquisition will from the very beginning have a positive impact on the Latour Group's earnings per share. The acquisition will increase the net debt in the Latour Group with about SEK 95 million.
Göteborg, July 5, 2016
INVESTMENT AB LATOUR (PUBL)
Jan Svensson
President and CEO
For further information, please contact:
Ola Ringdahl, CEO Nord-Lock, +46 40 602 46 00
Investment AB Latour is a mixed investment company consisting primarily of wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 37.9 billion. The wholly-owned industrial operations generated a turnover of approximately SEK 7.2 billion in 2015.