Momentum Group has today signed an agreement to acquire 100 percent of the shares in Sulmu Oy, one of the leading providers of industrial glass-reinforced plastic (GRP) and thermoplastic services in Finland. Sulmu will be part of the Flow Technology business unit within the business area Infrastructure.
"Sulmu has a long history and extensive experience in the provision of industrial corrosion-protection solutions, with a strong presence in key industrial sectors such as energy, forestry, mining, and chemicals in Finland. Their expertise in industrial maintenance and installation services aligns well with our ambition to expand within critical industrial processes," says Tuomas Mäkinen, Country Manager Finland at Momentum Group.
"Sulmu is a good strategic fit for the Flow Technology business unit, which focuses on critical functions in processes and to society where media such as fluids, steam and gas play a central role. Sulmu provides expertise in some of the most crucial areas of industrial processes, particularly benefiting from the growing trend towards GRP composite structures, which offer superior corrosion resistance and durability," says Martin Gyllix, Head of Flow Technology at Momentum Group.
Sulmu was founded in 1925 and is a leading provider of glass-reinforced plastic and thermoplastic piping solutions for industrial applications in Finland. The company specialises in installation and industrial maintenance, primarily serving customers in the energy, forestry, mining, and chemical sectors. Sulmu has an annual turnover of approximately 5.3 MEUR and 29 employees, with its sales and administration operations located in Helsinki and a prefabrication and storage facility in Imatra.
"We are pleased to join Momentum Group, which offers the resources and expertise to further develop Sulmu and strengthen our market position. With their support, we see great opportunities to expand our services and continue delivering high-quality solutions to our customers," say Ville Laitinen and Marko Nousiainen, owners of Sulmu.
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.
For further information, please contact:
Ulf Lilius, President and CEO
Tel: +46 8 92 90 00
Tuomas Mäkinen, Country Manager Finland
Tel: +358 400 170 708
tuomas.makinen@momentum.group
About Momentum Group
Momentum Group 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 for customers in industry and industrial infrastructure. 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 2.9 billion and some 800 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group.
Image Attachments
Sulmu3
