Nordstjernan has acquired 4.2 percent of the capital and nearly 15.0 percent of the votes in Momentum Group. Following the transaction, Nordstjernan will be the company’s largest shareholder in terms of the number of votes.
Momentum Group is one of the leading resellers of industrial consumables and industrial components, services and maintenance to professional end users in the industrial and construction sectors in the Nordic region. The Group reported revenue in 2018 of approximately SEK 5.9 billion and had about 1,700 employees at the end of the period.
“We view Momentum as a well-run company with significant potential. Momentum’s Board of Directors and management team have done a good job making it one of the leading players in the industry. We believe in the sector and have solid knowledge of the industry from our successful investment in Swedol. Swedol and Momentum will continue to operate as two independent companies,” says Nordstjernan’s CEO Tomas Billing.
“I see Nordstjernan as a highly suitable owner for Momentum that can contribute to the further development of the company through its industry know-how and experience of generating long-term value growth,” says Anders Börjesson, the current major shareholder of Momentum Group.
“We welcome Nordstjernan as a new owner in Momentum. With its financial strength, industrial expertise and long-term investment horizon, Nordstjernan can spur continued improvement in the company,” says Jörgen Wigh, Chairman of Momentum Group.
President and CEO
Questions will be answered by:
Tomas Billing, CEO, Nordstjernan
Telephone: +46 8 788 50 18
Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term and positive value growth. More information about Nordstjernan is available at www.nordstjernan.se.