Acquisition in SKS Group: A part of Group companies will be acquired by two new owners
SKS Group has signed an agreement with German LAPP Holding and Swedish Axel Johnson International regarding an acquisition of companies that belong to SKS Group.
The board of SKS Group has confirmed the acquisition on the 18th of December 2017. The Competition Authorities are evaluating the agreement on acquisition. If the authorities will permit the acquisition, it will take place approximately in January and February 2018.
When and if the acquisition takes place, LAPP Holding will acquire following companies SKS Automaatio Oy, SKS Connecto Oy and SKS Connecto Polska Sp. z.o.o.
When and if the acquisition takes place, Axel Johnson International will acquire following companies SKS Control Oy, SKS Mekaniikka Oy, SKS Mechatronics Oy, SKS Sweden AB and SKS Tehnika Oü.
The ownership of SKS Toijala Works Oy will continue as it is and the business will be developed from the company's own basis. The name of the company will be changed to Toijala Works.
– The Lapp Group and Axel Johnson International are well known for their long-term ownership. They aim at developing and expanding the business of the acquired companies in the long run, says Heimo Aho, the chairman of the board of SKS Group.
The Lapp Group is a leading German supplier of integrated solutions and branded products in the field of cable and connection technology. Oskar LAPP founded the company in 1959. The first product of the company was ÖLFLEX® wchic was the world's first industrially manufactured control cable. Nowadays the Group’s portfolio includes standard and highly flexible cables, industrial connectors and cable entry systems among others for different industries and markets around the world. The products of the company are mainly produced in the own sites of the company. The group has 17 production sites and over 40 sales companies, and a portfolio consisting of 40 000 products. Lapp Group currently employs approximately 3,400 people across the world. During the last business year, the group generated consolidated revenue of 901 million euros.
Axel Johnson International is a family-owned company owned by Antonia Ax:son Johnson and her family. The core business of the group is to acquire, own and develop industrial, technology-driven companies in strategic niche markets. The primary focus is on companies offering technical products and solutions for industrial processes. The group has four main business areas: Fluid Handling Solutions, Industrial Solutions, Lifting Solutions and Transport Solutions. There are over 90 companies in the Axel Johnson International group. Group currently employs approximately 3,000 employees in 30 countries around the world. During the last business year, the group generated consolidated revenue of 750 million euros.
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