Steinar H. Sunde is a Norwegian distributor of mechanical couplings, valves and other technical products. The company offers products from many well-known suppliers, such as Grayloc, Lisega, Rembe and IPCO. Based in Bergen, the company has five employees and sales of about NOK 60 million with good profitability. For further information, please visit the company’s website: www.shsunde.com.

The acquisition is in line with Beijer Alma’s model for value-adding acquisitions and Beijer Tech’s strategy of acquiring profitable companies in attractive niches with good growth potential and high value-add.

Fredrik Karlsson, Head of Business Area Fluid Technology, comments on the transaction: “We are pleased to welcome Steinar H. Sunde to Beijer Tech. The company has a strong position in the Norwegian market, an attractive offering and highly technical expertise. The acquisition strengthens our presence in fluid technology in Norway and will create good opportunities to continue developing the business together.”

The previous principal owner and CEO, Steinar Sunde, also comments on the transaction: “We have been building up Steinar H. Sunde for a long time, with a focus on quality, technical expertise and close customer relationships. Becoming a part of Beijer Tech felt like a natural next step and I see good opportunities for the company to continue developing together with a long-term owner. I also think it is positive that a minority share of the company will continue to be owned by the employees.”

Through the transaction, Beijer Tech will acquire the majority of the shares in Steinar H. Sunde AS with closing taking place today. The company will be part of Beijer Tech’s Fluid Technology business area. The acquisition is expected to have a marginally positive impact on Beijer Alma’s earnings per share.