Momentum Group acquires PW Kullagerteknik – expands its product offering in ball bearings

Momentum Group has today, through its subsidiary Agera Industritillbehör AB (Agera), signed an agreement to acquire 100 per cent of the shares in Peter Wiechert Kullagerteknik AB (PW Kullagerteknik), a specialist in ball and rolling bearings. 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.

“PW Kullagerteknik has 50 years of experience in ball and rolling bearings, primarily in high-precision bearings, so-called spindle bearings. For a long time, their range has included most of the well-known brands on the market. The company's wide network of contacts all over the world makes it possible to find exactly what customers are looking for. The acquisition strengthens our position in the field, and together we will have an even stronger offering to our customers," says Johan Swedmark, CEO of Agera.

PW Kullagerteknik was founded in 2006 by Peter Wiechert. The company is a specialist in ball and rolling bearings, but also offers other industrial supplies such as seals and transmissions to a broad customer base in the industry. The business is located in Skarpnäck outside Stockholm with warehouse and office, have annual sales of approximately SEK 12 million with 3 employees.

PW Kullagerteknik will be run as an independent subsidiary and competence centre under the current management of Agera and in collaboration with other companies in the Industry business area – in accordance with Momentum Group's philosophy of decentralised business responsibility.

"We will do our utmost to continue to develop the close relationship with our customers, something that will now be facilitated when we, together with Agera, can strengthen our offering and service level," says Peter Wiechert, founder and owner of PW Kullagerteknik.

For further information, please contact:

Ulf Lilius, President & CEO
Tel: +46 8 92 90 99
 
Niklas Enmark, CFO
Tel: +46 703 93 66 73
info@momentumgroup.com.se

Ann-Charlotte Svensson, IR
Tel: +46 720 85 72 62
info@momentumgroup.com.se

About Momentum Group

Momentum Group operates, 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 in the industrial sector. 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 2.1 billion and more than 700 employees. Momentum Group's B share is listed on Nasdaq Stockholm. For more information, please visit momentum.group.