Momentum Group acquires Reklamproffsen in Örebro
Momentum Group AB (publ) has acquired 70 percent of the shares in Reklamproffsen Skandinavien AB ("Reklamproffsen"). Reklamproffsen is a leading reseller of promotional products, including workwear and profile clothing, in Örebro and the surrounding area. Reklamproffsen generates annual revenue of approximately MSEK 35 with favourable profitability and has 12 employees.
Reklamproffsen is one of Örebro's largest resellers of workwear and profile clothing, with a high level of expertise in customising company products. Reklamproffsen has a professional store and showroom in Örebro. Its customers mainly comprise industrial and service companies, and a significant portion of its sales are conducted via customised online stores.
"Thanks to its strong customer and supplier relationships and highly skilled employees, Reklamproffsen has achieved successful growth since it was formed in 2000. It is now a well-established company in Örebro and the surrounding area. We anticipate good opportunities for further development and growth for Reklamproffsen as part of Momentum Group," says Ulf Lilius, President & CEO of Momentum Group.
In accordance with Momentum Group's philosophy of decentralised business responsibility, Reklamproffsen will continue to operate as an independent niche company.
"With its clear focus on strong niche companies, Momentum Group was a natural choice when it came to finding a new owner to develop Reklamproffsen in the future. We at Reklamproffsen look forward to continuing our positive, long-term development together with our customers and suppliers - and with a new, strong owner who shares our values and goals," says Andreas Blomkvist, CEO and partner of Reklamproffsen.
Closing takes place in conjunction with the acquisition. The acquisition is expected to have a marginally positive effect on Momentum Group's earnings per share during the current financial year.
Stockholm, 20 March 2018
Momentum Group AB (publ)
For further information, please contact:
Ulf Lilius, President & CEO - Tel: +46 10 454 54 70
Mats Karlqvist, Head of Investor Relations - Tel: +46 70 660 31 32
This information was submitted for publication on 20 March 2018 at 8:45 a.m. CET.
Momentum Group is one of the leading resellers of industrial consumables and components, service and maintenance to professional end users in the industrial and construction sectors in the Nordic region. The Group has annual revenue of approximately SEK 5.5 billion and approximately 1,600 employees. Momentum Group AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.momentum.group.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Momentum Group AB (publ) via Globenewswire