B&B TOOLS acquires electromechanical service company
Rörick Elektriska Verkstad AB, a subsidiary of the B&B TOOLS Group specialising in electromechanical service, entered into an agreement today to acquire all shares in Arboga Machine Tool AB ("AMT"). With workshops in Arboga, Sweden, AMT is a service company offering sales and repairs of ball screws and machine guarding systems as well as spindle repairs. AMT generates annual revenue of approximately MSEK 10 with favourable profitability and has five employees.
"Arboga Machine Tool is a well-established company with a high level of specialist expertise that complements and strengthens Rörick's offering in electromechanical service," says Ulf Lilius, President & CEO of B&B TOOLS. "The acquisition is in line with the strategy of our Momentum Group operating segment and we anticipate good opportunities for further development."
Closing is scheduled for 1 March 2017. The acquisition is expected to have a marginally positive effect on B&B TOOLS' earnings per share during the current financial year.
Stockholm, 28 February 2017
B&B TOOLS AB (publ)
For further information, please contact:
Ulf Lilius, President & CEO, B&B TOOLS AB, tel: +46 10 454 77 00
Mats Karlqvist, Head of Investor Relations, B&B TOOLS AB, tel: +46 70 660 31 32
This information was submitted for publication on 28 February 2017 at 12.15 p.m.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: B&B TOOLS via Globenewswire
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