Stockholm June 13, 2005
Hexagon Automation, with origins in the formerly listed AB Nils Dacke and Berendsen PMC, is a Nordic group within hydraulics and industrial automation. 2004 revenues were 2.3 billion SEK and with an operating result of 151 million SEK (EBITDA).
Hexagon Automation conducts its business through 22 subsidiaries in Sweden, Finland, Denmark, Norway, Russia, the Baltic region and China. Amongst its customers are Danish Vestas (windpower), Finnish Metso (paper machinery), Swedish BT (fork lift trucks) and Norwegian Umoe Mandal (shipyard).
The companies within Hexagon Automation represent extensive know-how and experience within hydraulics, pneumatics and industrial automation. With a 15-20% market share across the region, Hexagon Automation is one of the leading players in the Nordic hydraulics market.
“Hexagon Automation is an excellent company with stable earnings and a strong market position. We think there are attractive growth opportunities and intend to take an active role in the company’s future development on the Nordic hydraulics and automation market”, says Gabriel Urwitz, Chairman of AB Segulah.
Following completion, Jörgen Centerman will be appointed chairman of the board. Former CEO of ABB, Mr. Centerman has spent most of his career in the automation industry and brings a wealth of experience to bear. In addition Sven Ohlsson, former CEO of the Dacke Group and Scancem, will join the board.
“I am excited about continuing to develop the business with our new owners. Segulah has clearly stated an ambition to grow and in addition they have proposed two highly qualified industrialists to the board. The future looks promising”, explains Börje Vernet, CEO of Hexagon Automation.
The acquisition of Hexagon Automation, which is conditioned on final financing decisions, will be the first investment by Segulah III. It will also be Segulah’s largest transaction to date_en.
For further information, please contact:
Gabriel Urwitz, AB Segulah tel. +46-8-442 89 50, mob. +46-705-90 89 00
Börje Vernet, CEO Hexagon Automation, tel. +46-42-38 15 50, mob. +46-709-51 67 82