Coor Service Management acquires EuroMaint Industry
Coor Service Management is advancing its positioning as one of Sweden's leading industrial services providers by acquiring industrial services company EuroMaint Industry.
EuroMaint Industry is a subsidiary of EuroMaint, which is owned by the listed private equity conglomerate Ratos. EuroMaint Industry delivers specialized maintenance services (such as production maintenance, component services and automation solutions) primarily to manufacturers, the paper and pulp industry and energy sector. EuroMaint Industry's head office is in Skövde, south west of Stockholm, and it also has operations in the Swedish cities of Gothenburg, Gävle, Huskvarna, Stockholm, Åmål and Vänersborg.
"We're really satisfied with this transaction, which is strategically important to Coor. Industrial services is one of our major services segments, and EuroMaint Industry possesses the technical competence and geographical coverage that is a good complement to our current presence in industrial services," commented Staffan Ebenfelt, President of Coor Service Management in Sweden.
The company has some 300 staff, and for 2011, expected sales of some SEK 400 m. Its key accounts include Husqvarna, AB Volvo, VCC, Renova, Fortum, Sandvik and Stora Enso.
"EuroMaint Industry has strengthened its strategic positioning in recent years and developed its services despite a weak manufacturing cycle. We secured a lot of new orders in 2011, made our business profitable, and in the third quarter, posted very strong financial results," commented Nicklas Falk, CEO of EuroMaint Industry.
"We want to concentrate our business and focus on train maintenance. In Coor, we've found a trade owner that will be able to keep developing EuroMaint Industry's business, customers and people positively," added Hans Pettersson, Chairman of EuroMaint's Board.
The acquisition will be effective subject to approval from KKV, the Swedish Competition Authority, and the parties have scheduled completion of the transaction for early December.
For more information, please contact:
Staffan Ebenfelt President, Coor Service Management Sweden
+46 8 553 959 95 email@example.com
Åsvor Brynnel Head of Corp Communications, Coor Service Management
+46 70 600 73 21 firstname.lastname@example.org
Nicklas Falk CEO, EuroMaint Industry +46 70 762 50 34