Oscar Fredell, President and CEO:

Acquisitions in a Culture of long-term Partnership and Trust

Oscar Fredell, President and CEO, on what it means to join Beijer Alma:

What characterizes Beijer Alma as an owner?
“Beijer Alma gives entrepreneurial technology companies the strength to grow and endure across generations. We are a long-term owner with deep respect for each company’s identity and culture. We believe that value is created inside the companies, close to customers. That is why each company continues to be led by its own management with full mandate and responsibility. Our role is to strengthen what already works.”

What types of companies do you look to acquire?
“We seek companies with a strong position in their niche and a culture built on dedication and skill. Companies where people want to build on what they have created and where there is a desire to continue developing. We make both add on acquisitions and acquisitions of companies that can grow as independent entities within the group.”

What is important in your acquisition evaluation?
“A high return on capital employed is a sign of a sound and resilient business. Just as important are the people and the culture. We acquire companies because they are strong, not because we intend to change them. Our role is to contribute with stability, continuity and development capacity.”

How do you support companies after they join the group?
“The company’s leadership continues to run the business just as before. We are present as a partner and sounding board, for example through board work or when there is a need for capital to support growth. We also help companies connect with others in the group when shared experience can create value. The goal is always to strengthen, never to take over.”

What do you aim to create together with the companies?
“We want to create a secure and long-term home where entrepreneurship can continue to develop over time. Employees, customers and culture move forward together, and the company continues to grow in its own way. We create a context where companies can remain themselves and at the same time become stronger.”

WHAT WE OFFER

As an owner, Beijer Alma provides:

1.

Long-term ownership. We are a financially strong owner that takes a long-term approach with an industrial perspective. The focus is on profitable growth and on supporting new ideas and value creation over time.

2.

Strong support. We provide active ownership through engaged, present management. We contribute expertise in strategy and business development as well as our network and resources.

3.

Autonomy. Our work is based on entrepreneurship and decentralized business responsibilities, linked to realistic targets and appropriate reporting. We see value in retaining existing brands and company names.

4.

Values. We have strong business ethics and every aspect of our business practices is responsible and sustainable. These values permeate the Group, whose principal owners include charitable foundations and family-owned businesses.

Acquisitions in brief, 2010–today

Number of acquisitions during the period

Acquired annual sales (at the time of acquisition) MSEK

4,600

Number of countries in which acquisitions
were carried out

Increase in number of employees via acquisitions

2,560

Acquired revenues by geographic market

WHAT WE LOOK FOR

1 Size
Beijer Alma looks for new portfolio companies with revenues of between MSEK 500 and SEK 1.5 billion. These acquisitions can also include listed companies. Subsidiaries make supplementary acquisitions as well as acquisitions in new market segments or product areas. The focus is thus on private companies with revenues of between MSEK 50 and 500. Business areas – that is, portions of listed companies – of this size are also attractive acquisition candidates. Units with revenues of less than MSEK 50 can also be relevant acquisition candidates for the existing business areas.
2 Focus
Business-to-business operations are a common denominator. At the same time, the business model is flexible and we also focus on partnerships, companies within installation and manufacturing as well as companies that deliver solutions and services.
3 Financial history
Well-run, profitable companies that have also demonstrated growth and profitability over time. We are an attractive buyer for this kind of quality company – which also has great potential to continue growing in our Group – since we can offer a competitive purchase consideration.
4 Market segments
Segments with attractive growth opportunities and conditions for long-term profitable development. For example, global macrotrends or local conditions that contribute to demand for products or services. The segments should also offer opportunities for ongoing added value, either organically or through supplementary acquisitions.
5 Growth enablers
High customer value that leads to strong positions in chosen niches, meaning products and services that add value customers are prepared to pay for: high quality, highly technical content, high levels of customization, high levels of service and so on. Dependence on single customers and suppliers should be minimal and we prefer market coverage that is international, or has the potential to become so, however it is not a requirement. The business model should offer clear added value and have an obvious focus on the long term as well as sustainability.

Beijer Alma looks for new portfolio companies with revenues of between MSEK 500 and SEK 1.5 billion. These acquisitions can also include listed companies. Subsidiaries make supplementary acquisitions as well as acquisitions in new market segments or product areas. The focus is thus on private companies with revenues of between MSEK 50 and 500. Business areas – that is, portions of listed companies – of this size are also attractive acquisition candidates. Units with revenues of less than MSEK 50 can also be relevant acquisition candidates for the existing business areas.

Voices from acquired companies

LESJÖFORS | the US

Brandy Davies

MD, Lesjöfors Springs America, the US

Brandy Davies

MD, Lesjöfors Springs America, the US

“Since the Lesjöfors purchase, we have received significant investment in our business, expanded our product offering, been able to capitalize on synergies through the Lesjöfors group and gained instant support from their global sales team – supporting growth initiatives in Europe and Asia.”

LESJÖFORS | THE UK

Michael Gibbs

MD, Lesjöfors, the UK

Michael Gibbs

MD, Lesjöfors, the UK

“Lesjöfors has invested over £5m in our Cornwall sites, turnover has increased by over 700 percent and we’ve doubled our number of employees. We’ve relocated and expanded so much that we now have a second factory. Our order book continues to multiply, and the company’s performance has been significantly propelled with support by Lesjöfors.”

BEIJER TECH | SWEDEN

Anders Eriksson

MD, INU Group, Sweden

Anders Eriksson

MD, INU Group, Sweden

“Being part of a larger group feels like a natural step on our growth journey. We are convinced that in Beijer Tech, we have found the right strategical partner for the long-term ownership of the company alongside new and existing customers. You can see this in the acquisition of our sister company Novosystems, for example, which gives us the opportunity to expand our customer offering even further.”

LESJÖFORS | THE NETHERLANDS

Henri Veldhuis

MD, De Spiraal & Tribelt, the Netherlands

Henri Veldhuis

MD, De Spiraal & Tribelt, the Netherlands

“Very quickly, after the acquisition in 2019, COVID hit us all hard. However, despite the global challenge, we were all determined not to change the direction we, and Lesjöfors, had set out. Investments in machinery and infrastructure were committed, our companies kept their identity and we remained autonomous in managing the company we had built together.”

BEIJER TECH | SWEDEN

Henrik Palmu

MD, Svebab, Sweden

Henrik Palmu

MD, Svebab, Sweden

“The decision pathways are short, which means that issues like investments are addressed quickly. The company also has a long-term approach to ownership, which permeates all parts of the operations. Besides this, they have a great deal of confidence in our niche expertise at the local level. Another positive thing is that they invest in their employees, both in terms of developing current employees and with regard to recruitment.”

BEIJER TECH | SWEDEN

Fredrik Karlsson

MD, PA-Ventiler, Sweden

Fredrik Karlsson

MD, PA-Ventiler, Sweden

“Belonging to a group adds weight when we contact customers, which strengthens our market position. We have increased sales to our sister company, but have also gained new customers through the exchange of knowledge with other companies in the Group. We also appreciate the decentralized way of working. We are used to working independently, but now we also have support from a larger organization, which is positive.”

Profitable growth via acquisitions. Read more about our new companies.

BEIJER TECH | FINLAND

Continued acquisitions in Finland

Beijer Tech makes another Finnish acquisition by acquiring AVS Power Oy. AVS is a leading Finnish technology wholesaler and manufacturer of pneumatics, industrial valves, and compressors. The company has a well-established global network of suppliers and, through its technical expertise, can tailor its products based on customers’ needs. The company is headquartered in Espoo with a presence in five additional locations through manufacturing and sales units. AVS has a turnover of approximately EUR 13 million with good profitability and has approximately 30 employees.
Read the press release

BEIJER TECH | FINLAND

Acquisition in Finland

Beijer Tech continues its growth journey with the acquisition of the Finnish company Finn Lamex. Finn Lamex engineers and manufactures laminated windshields, primarily to the aftermarket for buses. The company has developed well in recent years and established a strong position in the European aftermarket and won customers from all over the world. Today, Finn Lamex has a turnover of approximately EUR 14 million and is well positioned to benefit from prevailing market trends.
Read the press release

LESJÖFORS | USA

Further acquisition in the US

After the acquisitions of Plymouth and John Evans’ Sons, Lesjöfors further strengthens its position in the USA through the acquisition of Tollman. Tollman manufactures industrial springs and has established a strong market position. The more than 500 customers are mainly found in the Industrial, Electrical, Defense & Firearms, and Automotive markets. Like Plymouth, Tollman is located in Bristol, Connecticut, which allows for a seamless integration with the group. In 2022, the company had a turnover of 22 million dollars with approximately 100 employees.
Read the press release

BEIJER TECH | SWEDEN

Growth in exciting niche

Beijer Tech continues its expansion into new niches with favourable growth potential through the acquisition of Botek. Botek is a leading manufacturer of hardware and software for vehicle-mounted scales and RFID systems. The products are technically complex and are used to plan, perform and report collection services within the waste industry. As the waste industry increasingly requires data to fulfil its role in the transition towards a circular and sustainable society, Botek has grown from a turnover of SEK 30 million in 2010 to around SEK 100 million today.
Read the press release

LESJÖFORS | TURKEY

Expansion to Turkey

Lesjöfors continues its international expansion via the acquisition of Telform in Turkey. Telform manufactures industrial springs for the domestic and international market. The customer base is diversified with sales to more than 30 countries and various industries such as white goods, construction, automotive, electrical and others. The acquisition establishes Lesjöfors in Turkey and enables further production optimization.

LESJÖFORS | USA

Doubled turnover in the US

John Evans’ Sons (JES) is acquired in line with Lesjöfors’ ambition to build the leading group in spring, wire and flat strip component group. JES is America’s oldest spring maker and has a leading position in the American market. The company has a diversified customer base with long customer relationships, mainly in sectors such as the medical, industrial, construction, aerospace and transport industries. Through the acquisition, Lesjöfors doubles its turnover on the American market and strengthens its position in the market for springs with medical applications.

BEIJER TECH | SWEDEN

The customer in focus

By acquiring Mountpac, Beijer Tech establishes presence in a new niche with focus on customized components in different materials. Through a strong customer focus and responsiveness, Mountpac has developed from an assembly and packing company to a comprehensive supplier with in-depth customer collaborations. The company is located in Hillerstorp in the Gnosjö region and has a turnover of approximately SEK 50 million.

BEIJER TECH | SWEDEN

High-tech expansion

Through the acquisition of Swedish Microwave (SMW), Beijer Tech adds technical expertise to the group. SMW manufactures satellite communications equipment for the worldwide professional market. The products are technically advanced and are used, among other things, in the marine industry, for earth observation and among satellite and teleport operators. The company has a turnover of SEK 50 million and places great attention on continued product development.

LESJÖFORS | THE US

US expansion

The acquisition of Plymouth Spring Company is another step in Lesjöfors’s expansion in the US market. Plymouth manufactures custom precision metal springs, stampings and wire form parts. Its customer base is spread across sectors such as electrical, hardware, industrial, defense and automotive. Through this acquisition, Lesjöfors is establishing a US presence within industrial springs, and Plymouth will serve as a platform for future organic and acquisitive growth.
Read the press release here

LESJÖFORS | THE NETHERLANDS

New product area, new markets

Through Alcomex, Lesjöfors now has access to both a new product area and new geographic markets. The Dutch group manufactures door and industrial springs and has international customers in sectors such as garage and industrial doors, construction and fine mechanics. The company is a leader within European door springs and has a strong regional position in industrial springs. Alcomex has production facilities in the Netherlands, the Czech Republic, Poland and India, with revenues of MEUR 45.
Read the press release here

BEIJER TECH | SWEDEN

Battery industry in focus

Beijer Tech is continuing its expansion into new, exciting niches – now with a focus on battery manufacturing. Källström Engineering Systems designs and produces equipment for filling, mixing and handling of corrosive liquids, primarily for the international battery industry. With revenues of MSEK 35, the company has a high degree of technical expertise, a well-established brand and nearly 30 years of experience from the battery industry.
Read the press release here

BEIJER TECH | SWEDEN

Complete solutions for indoor environments

Beijer Tech is continuing to grow in building automation through the acquisition of Novosystems. The company offers energy-efficient solutions for public and private customers in Sweden. Novosystems has up to MSEK 50 in revenues and focuses on complete solutions for indoor environments through system integration and coordination, particularly in commercial and specialized buildings.
Read the press release here

BEIJER TECH | SWEDEN

Water purification for municipalities and industry

Noxon provides decanter centrifuges, polymer machines, control systems and after-sales services related to water treatment. Its customers are primarily municipal wastewater treatment plants, but Noxon also has customers in the fishing, recycling, chemical and paper industries as well as in oil and gas. The company generates revenues of approximately MSEK 70.
Read the press release here

BEIJER TECH | SWEDEN

Beijer Tech invests in a growth industry

INU Group is active in building automation systems and offers environmentally-friendly and energy-efficient solutions for public and private customers in Sweden. The company focuses on complete solutions for indoor environments through system integration and coordination, particularly in commercial and specialized buildings. The group has revenues of MSEK 110.
Read the press release here

BEIJER TECH | SWEDEN

Expansion in Fluid Technology

PA Ventiler is helping to broaden Beijer Tech’s operations in the Fluid Technology business area. PA Ventiler sells valves, primarily to the pulp and paper industry as well as the chemical and petrochemical industry. The well-managed niche company, which has revenues of MSEK 27, offers both standard solutions and specialized products and has a strong market position.
Read the press release here

LESJÖFORS | THE UK

Leading gas-spring manufacturer

Metrol Springs is the UK’s largest manufacturer of gas springs. The company has revenues of MGBP 7 million and has customers in general industry as well as the automotive industry. A large share of sales is generated from Metrol’s catalog and websites. In addition to special-purpose gas springs, the company offers its own range of gas struts.
Read the press release here

BEIJER TECH | FINLAND

New industrial segment

KTT Tekniikka adds a new segment in the Industrial Products business area – mechanical power transmission products and service. The company has revenues of MEUR 7.5 and offers maintenance service and spare parts for gear boxes and pumps in addition to a wide range of machinery. Major customer segments include the pulp and paper industry, energy companies, machine manufacturers and various processing industries.
Read the press release here

LESJÖFORS | THE NETHERLANDS

International expansion, new product area

The acquisition of Spibelt brought two operations to Lesjöfors – De Spiraal and Tribelt – that have combined revenues of MEUR 14 million. De Spiraal’s spring operations have broadened the customer base in various sectors, such as food, pharmaceuticals and energy. Tribelt produces industrial conveyor belts for the food, processing and pharmaceutical industries, which is a new market for the Lesjöfors Group.
Read the press release here

BEIJER TECH | NORWAY

Nordic expansion

Codan AS is contributing to Beijer Tech’s expansion in the Nordic region. The company is a full-service supplier of hoses, couplings and injection systems, but also offers service and manufacturing of customized steel hoses. Codan has revenues of MNOK 33. The acquisition creates a platform for Lundgrens and the Fluid Technology business area in the Norwegian market.
Read the press release here

BEIJER TECH | SWEDEN

Broader offering

Encitech broadens Beijer Tech’s offering to include electronic components and increases the share of proprietary products. The company manufactures and distributes components to customers in heavy industry, medical technology equipment, military technology and telecommunication. Encitech has revenues of MSEK 50 and customers in some 20 countries.
Read the press release here

BEIJER TECH | FINLAND

Good growth opportunities

Uudenmaan Murskaus complements Beijer Tech’s other operations in Finland. The company sells spare and wear parts for rock crushers. Uudenmaan Murskaus has revenues of MEUR 2 and is a profitable, well-run company with good growth opportunities.
Read the press release here