Husqvarna Group’s Construction Division has signed an agreement to acquire the Floor Grinding Solutions Division of HTC Group AB, the market leader in floor grinding solutions.
STOCKHOLM, 08-Mar-2017 — /EuropaWire/ — “We have previously communicated the ambition to grow our Construction Division. The acquisition of HTC is an important step on that journey and, together with the recent acquisitions of Pullman Ermator and Diamond Tool Supply, is seen as an expression of that goal. Combined, these acquisitions give us a strong position in the fast growing and attractive surface preparation market”, says Kai Wärn, President and CEO of Husqvarna Group.
“The combination of HTC and Husqvarna Construction will create a strong platform to educate floor owners and architects about the benefits of polished concrete floors and increase the preference of this flooring solution. Through the acquisition, we will strengthen our ability to develop and offer customers the best total solutions for the segment” says Henric Andersson, President of Husqvarna Construction.
HTC Floor Grinding Solutions, a part of HTC Group AB, headquartered in Söderköping, Sweden is the global market leader in floor grinding solutions. Sales in 2016 amounted to approximately SEK 380m. The about 150 employees are mainly located in Sweden and in the fully-owned subsidiaries in France, Germany, UK and the U.S, which also are the biggest markets in terms of sales. HTC is currently owned by Polaris, a leading Nordic private equity company.
“The HTC team brings extensive floor grinding product and application expertise which combined with Husqvarna’s global reach and scale gives us a stronger position to grow the polished flooring market, and help our customers to achieve beautiful and easily maintained floors at lower environmental impact. Together we will also explore synergies in areas including sourcing and technology.”, says Henric Andersson, President of Husqvarna Construction.
Further details will be announced closer to the finalization, which is expected by mid-year. The acquisition of HTC Floor Grinding Solutions is subject to approval from competition authorities and the impact on Husqvarna Group’s earnings in 2017 will be limited.
SOURCE: Husqvarna Group
Husqvarna Group is a world-leading producer of outdoor power products for garden, park and forest care. Products include chainsaws, trimmers, robotic lawn mowers and ride-on lawn mowers. The Group is also the European leader in garden watering products and a world leader in cutting equipment and diamond tools for the construction and stone industries. The Group’s products and solutions are sold under brands including Husqvarna, Gardena, McCulloch, Poulan Pro, Weed Eater, Flymo, Zenoah and Diamant Boart via dealers and retailers to consumers and professionals in more than 100 countries. Net sales in 2016 amounted to SEK 36 billion and the Group has approximately 13,000 employees in 40 countries.
For more information, please contact
Henric Andersson, President Husqvarna Construction Division, +46 8 738 9133
Tobias Norrby, Husqvarna Group Investors relations, +46 8 738 93 35
Åsa Larsson, Husqvarna Global Media Manager +46 8 738 90 80