Momentum Group has today, through its subsidiary Börjesson Pipe Systems AB (BPS), signed an agreement to acquire 70 percent of the shares in Ceon AB, a specialist in valves and actuators with a focus on the marine sector in the Nordic region. Ceon will become a subsidiary of BPS, which is part of the Flow Technology business unit within the Infrastructure business area.
“Ceon is a strategic fit for Flow Technology, which focuses on critical functions in industrial processes and essential infrastructure where media such as steam, gas and water play a central role. With its specialist expertise and offering primarily aimed at the marine sector, Ceon and BPS complement each other well, and we see several natural opportunities for collaboration going forward. We have known each other for many years, and I am convinced that, together, with our combined expertise and structural capital, we can continue to grow and gain additional market share while maintaining profitability,” says Christopher Edfeldt, CEO of BPS.
Ceon was founded in its current form in 2015, although the business has a considerably longer history. Bengt-Olof Wesslén, who co-founded the company, has more than 40 years of experience in the industry. Today, Ceon offers valve and actuator solutions for demanding marine and industrial environments, as well as products for the protection of critical infrastructure installations. Through high product expertise, established supplier relationships and a broad product offering within its niche, the company has built a broad and stable customer base over the years. Operations are based in Laholm, Sweden, and through a subsidiary in Denmark, with annual turnover of approximately SEK 47 million and 7 employees.
“We look forward to becoming part of Momentum Group and to the new collaboration and business opportunities that will be created together with BPS,” say Magnus Wesslén and Martina Wesslén, owners of Ceon.
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.
