Balco Group AB, a leading supplier of balcony solutions for multi-family buildings, has announced the completion of its acquisition of NMT Montageteknik i Norden AB. The acquisition, which was consolidated on March 1, 2023, is expected to positively impact Balco Group’s earnings per share in 2023.
Who is NMT Montageteknik i Norden AB?
NMT Montageteknik i Norden AB is a company that specializes in offering turnkey contracts in balcony renovation. Founded in 2016, the company has its headquarters in Sundsvall, Northern Sweden, and employs 11 full-time employees. NMT’s customers consist mainly of tenant-owned housing associations, and the company had a turnover of 49 MSEK during the most recent operating year, with an operating result of 4,4 MSEK.
What does the acquisition mean for Balco Group?
The acquisition of NMT Montageteknik i Norden AB will help strengthen Balco Group’s market position in Northern Sweden. The move is expected to complement Balco Group’s existing range of balcony solutions and expand the company’s reach in the growing market of Northern Sweden.
Camilla Ekdahl, President and CEO of Balco Group, expressed her enthusiasm about the acquisition, stating, “With NMT’s solid knowledge and complete assembly organization, we can now strengthen our market position and our offer to the growing market in Northern Sweden. We look forward to working with Kenneth and his team.”
What about NMT Montageteknik i Norden AB’s current management?
The current management of NMT Montageteknik i Norden AB will continue to run the company, with Kenneth Wirmeskog remaining as CEO. Wirmeskog expressed his excitement about being a part of Balco’s growth journey, saying, “It feels inspiring to be part of Balco’s growth journey, and I look forward to being part of developing and strengthening the brand further.”
How is Balco Group financing the acquisition?
Balco Group is financing the acquisition with its own cash, and the shares are acquired from Wirmeskog Holding AB.
The acquisition of NMT Montageteknik i Norden AB is a significant move for Balco Group, strengthening its market position in Northern Sweden and expanding its range of balcony solutions. With NMT’s complete assembly organization and solid knowledge, Balco Group is well-positioned to serve the growing market in Northern Sweden. The current management of NMT Montageteknik i Norden AB will continue to run the company, ensuring a seamless transition for customers and employees alike.