Momentum Group acquires TriffiQ Företagsprofilering
Momentum Group AB (publ) has entered into an agreement to acquire 70 percent of the shares in TriffiQ Företagsprofilering AB ("TriffiQ"). TriffiQ is a leading reseller of workwear and protective footwear in Stockholm. TriffiQ generates annual revenue of approximately MSEK 70 with favourable profitability and has some 20 employees.
TriffiQ is one of Stockholm's largest resellers of workwear, protective footwear and profile clothing, with a high level of expertise in customising company products. TriffiQ has a professional store and showroom in Stockholm, and a significant portion of its sales are conducted via customised online stores for industrial and service companies and the public administration sector.
"TriffiQ is a well-established company with highly skilled employees and good customer relationships with industrial companies and the public sector in Sweden. The acquisition is fully in line with Momentum Group's strategy, where our companies strive to achieve strong positions in profitable niche markets with competitive local and digital sales channels. We anticipate good opportunities for further development and growth for TriffiQ as part of Momentum Group," says Ulf Lilius, President & CEO of Momentum Group.
In accordance with Momentum Group's philosophy of decentralised business responsibility, TriffiQ 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 TriffiQ in the future. Tomorrow's market will require the capability and resources for continuous development, which Momentum Group offers. We at TriffiQ 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 Tommy Hedlund, CEO and owner of TriffiQ Företagsprofilering.
Closing is scheduled to take place in late August 2017. The acquisition is expected to have a marginally positive effect on Momentum Group's earnings per share during the current financial year.
Stockholm 6 July 2017
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 6 July 2017 at 08:00 a.m. CET.
Momentum Group is one of the leading resellers of industrial consumables and components, services 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
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