Momentum Group through its subsidiary Askalon AB, signed an agreement to acquire 100% of the shares in Hörlings Ventilteknik AB (HVT), a specialist in valve service primarily to industrial customers in northern Sweden. HVT will become a subsidiary of Askalon, which is part of the Infrastructure business area under the Flow Technology business unit.
HVT, founded in 2001, is a specialist in valve service for primarily industrial customers in paper & pulp, metal & mining, and power production in northern Sweden. The company offers mechanical service and testing of valves in its own workshop and at the customer’s site. The business is conducted from Själevad, Örnsköldsvik, and the company has a turnover of approximately SEK 20M with 10 employees.
Closing is expected to take place in the first quarter of 2025 following approval from the Swedish Inspectorate for Strategic Products. The acquisition is expected to have a marginally positive impact on Momentum Group’s earnings per share during the current financial year.