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Helsingborg, Sweden -- Nederman Holding AB has doubled its business to become the global market leader in industrial air filtration. This has been achieved by Nederman acquiring Dantherm Filtration — one of the leading manufacturers of industrial air filtration equipment. Dantherm Filtration (excluding the business not taken over in France) had sales in 2009 of around SEK 980 million, a headcount of slightly over 900 and is a business area of the listed Danish Group, Dantherm A/S.
The acquisition of Dantherm Filtration is in line with Nederman's strategy of acquiring businesses that complement existing products and systems in customer-focused areas. The acquisition is also in line with Nederman's strategy of expanding its customer base and their customer areas. The acquisition also continues Nederman’s strategy of expanding in the value chain by selling systems and an increasing amount of aftermarket sales.
Dantherm Filtration is a company that complements Nederman very well in terms of range, customers and strategy. Both companies largely work with the same customer groups, but Dantherm Filtration can offer filtration systems with much higher capacities. Nederman will now be able to offer and sell even larger systems to its existing customer segments, while at the same time it gains a complete range — for smaller to larger facilities
The purchase price amounts to DKK 280 million (approx. SEK 364 million) on a debt-free basis (enterprise value). The acquisition is expected to be completed end of April 2010. Integrating the activities will take place gradually and is expected to be fully implemented in 2011. The acquired business is expected to be consolidated into the Nederman Group from the day it is taken over.
Sven Kristensson, Nederman’s CEO, commented: “The acquisition of Dantherm Filtration provides products and expertise that complement Nederman in strategically important areas. Dantherm Filtration has a wide range of large, advanced filtration systems that coupled with Nederman's existing product range will make Nederman a world leader in industrial air cleaning.”
Torben Duer, Dantherm A/S’s CEO, commented: “Nederman is a very good new owner for Dantherm Filtration. I see significant potential in this deal where the companies together will become a leader in industrial air. Both businesses will benefit greatly from the marketing and sales synergies in the transaction.”
Source: http://www.nederman.com/
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