STOCKHOLM, Sweden, Jan 4, 2017 /PRNewswire/ --
Husqvarna Group's Construction Division has signed an agreement to acquire Pullman Ermator AB, a market leader in dust and slurry management systems. The acquisition is expected to be finalized mid-January 2017.
"The acquisition of the fast growing and highly profitable market leader Pullman Ermator is an excellent strategic fit to Husqvarna Group's Construction Division. It shall be seen in the perspective of our strategic intent to grow the Construction Division's share of the Group", says Kai Wärn, President and CEO of Husqvarna Group.
"By integrating Pullman Ermator's market leading dust and slurry management solutions into Husqvarna's concrete cutting, drilling and grinding systems, we can provide even more efficient total solutions for our customers. Growth is expected from utilizing Husqvarna's extensive geographical reach and dense distribution network. The acquisition also represents an important step in our strategy aiming to continue to increase our market share in the attractive surface preparation market", says Henric Andersson, President of Husqvarna Construction Division.
Pullman Ermator, headquartered in Smedjebacken, Sweden, is a market leader in dust and slurry management solutions including dust extractor systems, dry/wet vacuums, and air scrubbers for the light construction industry. The about 50 employees are mainly located in Sweden and in the fully-owned subsidiary Ermator Inc. headquartered in Tampa, Florida in the U.S.
"To utilize the strengths of both brands we will apply a multi-branding strategy", explains Henric Andersson. "Combined we will become an even stronger actor with the capability to innovate even more effective solutions offering our customers greater productivity and thus reinforce our market leading position."
In 2016, the unaudited preliminary sales of Pullman Ermator amounted to approximately SEK 300m. The acquisition is expected to have a limited positive effect on the Group's operating income and net results for 2017.
Pullman Ermator will be included in Husqvarna Group's accounts as of mid-January 2017. Further details will be included in the Group's year-end report 2016, which is released on February 9, 2017.
For more information, please contact
President Husqvarna Construction Division,
Tel: +46 8 738 9133
Media contact: +46 8 738 90 80
"This press release contains insider information that Husqvarna AB is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 08.30 CET on January 4, 2017."
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SOURCE Husqvarna AB