Hultafors Group has agreed to acquire fellow Swedish firm Hellberg Safety AB, based in Stenkullen.
The acquisition is part of Hultafors Group’s strategy to broaden its portfolio in the PPE sector.
Hellberg is a specialised supplier of hearing protection, face protection and communication solutions for personal protection purposes. Founded in Sweden in 1962, the company has a presence in 50 markets with its own R&D, production, assembly and warehouse operations at its Stenkullen HQ.
Through the acquisition, Hultafors Group will gain access to a complete portfolio of highly advanced hearing protection products as well direct customer relationships with some well recognised blue-chip companies.
Hellberg Safety net sales amounted to SEK 66 m in 2017 with a profitability well in line with Hutlafors owner Latour’s financial targets. The company has around 20 employees.
“We are thrilled about this acquisition as we think Hellberg will be a perfect match for Hultafors Group in fulfilling our ambitions within the PPE-area and we see a lot of opportunities going forward when combining the Hellberg portfolio with the Hultafors Group sales network” said Ole Kristian Jødahl, CEO at Hultafors Group AB.
Joakim Ohlander and Colin MacKenzie, previous owners of Hellberg, said: “Hultafors Group is a company which we have known for quite some time and we believe that Hultafors Group’s existing customer relations and network in many countries will serve as an excellent foundation in taking the current business of Hellberg to the next level.”