XANO Industri AB (publ) has signed to acquire all the shares in Blowtech Group AB

Assisted by Moll Wendén, XANO has of the 2nd January 2018 acquired all shares in Blowtech Group AB. Blowtech is a leading Nordic player in technical blow moulding of plastics.

Blowtech produces complex components for vehicles, construction machinery and infrastructure equipment. The company has built up a very strong market presence, particularly in the Nordic region, using its extensive experience of blow moulding acquired over many years. Blowtech Group has production facilities in Gnosjö, Sweden, and Kongsvinger, Norway, with a workforce of some 120 employees. The acquisition also includes LTBP Sweden AB, in whose property the Swedish operations are located. The business has a turnover of SEK 250 million with an operating margin of approximately 12% and a balance sheet total of SEK 200 million. The acquired operations are expected to contribute annual earnings per share of SEK 1.25.

The XANO Group consists of niche engineering companies offering manufacturing and development services for industrial products and automation equipment. The Group is represented in the Nordic countries, Estonia, the Netherlands, Poland, China and the United States. The Group’s operations are divided into the business units Industrial Solutions, Precision Technology and Rotational Moulding. XANO’s Series B share has been listed on Nasdaq Stockholm since 1988.

The acquisition of Blowtech gives the XANO Group access to additional technical expertise in the field of plastics processing as well as to new market segments. The acquisition also allows potential synergies to be created through transfer of knowledge between the fellow subsidiaries, bringing greater strength to individual entities as well as expanding the joint market portfolio.
In conjunction with the acquisition, XANO’s Rotational Moulding business unit will undergo a restructuring process and will change its name to Industrial Products at the end of the year. Blowtech will become part of this along with Cipax and Ackurat.

The purchase price, which is being paid partly in cash and partly through the transfer of company shares, amounts to approximately SEK 238 million on a debt-free basis.

The Moll Wendén team was led by partner Martin Morén Jönsson, supported by Henric Stråth and Lina Andréasson.