Momentum Group
Momentum Group acquires Finnish Helsingin Kumi – strengthens its position in industrial rubber (MFN)
Momentum Group has today signed an agreement to acquire 100 per cent of the shares in Helsingin Kumi Oy. Helsingin Kumi is a leading specialist in customized rubber products and rubber profiles for industrial customers in Finland. The closing will take place immediately and the acquisition is expected to have a marginal positive impact on Momentum Group's earnings per share during the current financial year.
“Company acquisitions are an important part of Momentum Group's growth strategy. The acquisition of Helsingin Kumi is the first standalone acquisition we make in Finland. In addition, the acquisition strengthens our position in industrial rubber, an important product area for us already today," says Anders Larsson, Head of Specialist at Momentum Group.
Helsingin Kumi is a Finnish company founded in 1951 that has since its inception focused on the sale of customized rubber products and rubber profiles. The products are custom-made in the company's own workshop and delivered to industrial customers, primarily in Finland. The operations are conducted from Helsinki and have annual sales of approximately SEK 25 million with seven employees.
Helsingin Kumi will continue to operate as an independent subsidiary and centre of excellence under the current management of the Components business area (the Specialist area) in accordance with Momentum Group's philosophy of decentralised business responsibility. Tuomas Mäkinen, who is the newly appointed Country Manager Finland at Momentum Group, will take on as CEO of Helsingin Kumi.
“Helsingin Kumi is a well-established company that has served Finnish industry with their strong focus on industrial rubber products for decades. The acquisition ties Momentum Group more into the Finnish industrial market and is the first step in our journey going forward,” says Tuomas Mäkinen, Country Manager Finland at Momentum Group.
“We look forward to being part of Momentum Group. With its clear focus on strong niche companies in industrial products Momentum Group is a natural new owner for us. I am convinced that Helsingin Kumi will develop well within the group into the future,” says Ismo Nikola, owner of Helsingin Kumi.
For further information, please contact:
Ulf Lilius, President & CEO
Tel: +46 8 92 90 00
Niklas Enmark, CFO
Tel: +46 703 93 66 73
niklas.enmark@momentum.group
Ann-Charlotte Svensson, IR
Tel: +46 720 85 72 62
ann-charlotte.svensson@momentum.group
About Momentum Group
Momentum Group operates, develops and acquires successful sustainable companies in the Nordic region through active ownership with decentralised profit and business responsibility. The Group consists of a number of companies that together constitute one of the Nordic region’s leading suppliers of industrial components, industrial services and other related services in the industrial sector. What the businesses have in common is that they help make customers’ operations easier, safer and more profitable by offering sustainable, long-life products and services with a strong local presence close to customers. The Group generates revenue of approximately SEK 2.1 billion and has more than 700 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group.
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