Nomo acquires the Norwegian bearing and power transmission specialist Rotek AS. By this acquisition, Nomo enters the Norwegian market for mechanical power transmission products and services.
“The establishment in Norway has been a strategic objective for many years,” says Mattias Jaginder, CEO of Nomo. “By acquiring Rotek AS, Nomo strengthens its Nordic market position even further.”
Rotek AS supplies bearings, power transmission, seals and related services combined with strong technical knowledge. The company is located on the Norwegian west coast in Ålesund and has an annual turnover of approximately 2,4 MEUR. Founded in 1989, Rotek AS has developed strong relationships with both customers and suppliers and has a wide product portfolio including the private label RTK.
“Rotek AS product offering combined with their strong technical knowledge, is completely in line with Nomo’s ambition to operate as a technically skilled solution provider,” says Mattias Jaginder.
Ola Erlandsen, former owner and founder of Rotek AS, sees new opportunities joining Nomo: “Becoming a part of the Nomo Group and Axel Johnson International, applying the Nomo business model and portfolio, will allow us to develop and strengthen our concept in the Norwegian market even further.”
The acquisition was closed July 2nd, 2018.
Nomo is a technical solution provider to industry, with operations in Sweden, Finland and Denmark. The company was founded in 1948 and has since developed a strong offer in bearings, transmissions and seals in the Nordic market. Nomo supplies products and services to OEM and MRO customers. The company has more than 100 employees and annual sales of approximately SEK 400 million.
Nomo is part of Axel Johnson International, a privately owned Swedish industrial group of more than 100 companies in 25 countries, with combined annual sales of EUR 790 million. Axel Johnson International drives business development and growth through a long-term approach to ownership in strategic niche markets, primarily technical components and solutions for industrial processes. Axel Johnson International is organised in four business groups: Fluid Handling Solutions, Industrial Solutions, Lifting Solutions and Transport Solutions.
For further information, please contact: Mattias Jaginder, CEO Nomo Kullager AB, +46 (0)8 630 28 01, email@example.com
or Ola Sjölin, Managing Director Industrial Solutions, Axel Johnson International, +46 (0)8 453 77 25, firstname.lastname@example.org