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Momentum Group acquires Brammer's MRO business in Sweden, comprising eight local sales and service units

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Momentum Industrial AB, a subsidiary in the Momentum Group, signed an agreement today to acquire Brammer's Swedish maintenance, repairs and operation (MRO) business, com­prising eight local sales and service units across Sweden. The acquisition further strengthens Momentum Industrial's position as a leading supplier of industrial components and related services to Swedish industry. Together, the acquired units generate annual revenue of approximately MSEK 140 with healthy trade margins. The acquisition will be conducted as a conveyance of assets and liabilities.

The acquired businesses deliver high-quality industrial components and other MRO products and services to industrial companies from eight local units in Sundsvall, Gävle, Stockholm, Örebro, Karlshamn, Växjö, Trollhättan and Gothenburg. In all but two locations (Stockholm and Karlshamn), these local units will be integrated with Momentum Industrial's existing operations in the same area.

"The acquired units are well-established businesses, with good customer relationships with industrial companies at the local and national level, as well as dedicated employees with a high level of expertise in such areas as transmission," says Ulf Lilius, President & CEO of Momentum Group. "The acquisition will enable Momentum Industrial to further strengthen its service level, know-how and availability for new and existing customers - and we anticipate good opportunities for further development and growth."

"When deciding to divest our Swedish MRO units, it was critical to find a strategic, long-term partner," says Paul Van Der Rest, CEO of IPH-Brammer Eastern Europe & Nordics. "Divesting the operations to a well-established, successful player in the Swedish MRO market such as Momentum Industrial will make it possible to continue offering a high level of service for the customers and positive development opportunities for the employees."

Closing is scheduled to take place in late May 2018 taking into account customary labour law practice. The acquisition is expected to have a marginal impact on Momentum Group's earnings per share during the current financial year.

Stockholm, 9 May 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 / e-mail: mats.karlqvist@momentum.group

This information was submitted for publication on 9 May 2018 at 08:00 a.m. CET.

Momentum Group is a leading reseller 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.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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

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