Axload acquires majority of shares in Mennens Group
– Takes market leading position in steel wire rope, lifting products and services in Europe.
AxLoad, top-ranking supplier of lifting and cargo securing products and services acquires the majority of the shares in Mennens Group from De Hoge Dennen Capital, a Dutch privately held investment company. Mennens is the leading provider of steel wire rope, cranes, lifting products and related services in the Benelux region with sales of 83 MEUR in 2011 and 420 employees. The combined revenue of AxLoad and Mennens will be approximately 350 MEUR.
Martin Malmvik, CEO of AxLoad said: “The acquisition of Mennens is an important step in our growth strategy moving our strong market leading footprint from Northern Europe into continental Europe.
Mennens will become a part of Certex Group, the largest of AxLoad’s three divisions. AxLoad will after the acquisition have 1.500 employees and presence in Holland, Belgium, Sweden, Norway, Denmark, Finland, Great Britain, France, Spain, Germany, Estonia, Latvia, Lithuania and Russia.
Peter Keith, Group Managing Director for Certex, said: “We are thrilled to invite Mennens into our organisation and to continue to develop the business together with Mennens’ management. The deep application and product know how, their strong service offerings and the history of Mennens as a wire rope specialist is a perfect match for our customers and us. Finally, we are very excited that the senior management will stay on holding the remaining minority part of the shares in Mennens.”
Maarten van der Velden, Managing Director of Mennens commented: ”For Mennens this is a perfect fit. AxLoad has the same management philosophy. They are part of a very strong solid Group, which strives to expand in our core business and they have no presence in the Benelux. Their extensive knowledge of the offshore and energy market will enable us to grow in this area. Last but not least being a member of an international group will give our employees exciting opportunities for personal development.
For more information, please contact:
Maarten van der Velden, Managing Director, Mennens Group (phone +31 (0)6 53318412)
Martin Malmvik, CEO, AxLoad (phone +46 (0)70 8385598)
Peter Keith, Group Managing Director, Certex, (phone +46 (0)70 6675019)
Mennens Group is the leading company in the Benelux in lifting, hoisting, fall protection and steel wire ropes. It comprises 7 companies and has app. 420 employees
AxLoad secures movement of goods across Europe through its lifting and anchoring application technology and cargo securing solutions. The business group comprises 25 companies and is split into three divisions, Certex,
Forankra and Haklift. www.axload.com, www.certex.net
AxLoad is part of Axel Johnson International together with AxIndustries, AxFlow and AxImage. The group comprises of strong market leading niche companies, which markets and distributes products and bespoke customer solutions to industrial customers. Axel Johnson International has an annual turnover of SEK 5,6 billion and has a presence in some 20 countries throughout Europe. Axel Johnson International is part of the family company Axel Johnson AB, which is owned by Antonia Ax:son Johnson and her family. www.axinter.se