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.
“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.
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. 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.
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.