XANO concludes the acquisition of Blowtech Group

2 January 2018 14:45


PDF-icon_small.png  Press release


Following a confirmatory due diligence, XANO has today concluded the acquisition of 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 approximately SEK 200 million. The acquired operations are expected to contribute annual earnings per share of SEK 1.25.

Blowtech will become part of the Industrial Products business unit along with Cipax and Ackurat. 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.

The purchase sum, which is paid partly in cash and partly through the transfer of company shares, amounts to SEK 238 million on a debt-free basis. For settlement of the equivalent of SEK 20 million of the purchase sum, 133,778 of the company’s own Class B shares are transferred at the rate of SEK 149.50. After this transaction, the holdings of own shares amount to 146,222 Class B shares, corresponding to 1.0% of the total share capital. 


Lennart Persson, CEO
+46 36 31 22 33