New division names reflect broadened acquisition strategy
Our vision is to be the leading niche supplier of productive, safe and sustainable solutions to the construction and manufacturing sectors. As part of our vision, we have chosen to broaden our acquisition focus and to impose stricter requirements on operating margins and profitability in our acquisitions. The goal is to acquire combined earnings of MSEK 50-80 per year and to obtain greater exposure to new areas with favourable conditions for growth. Our acquisitions will primarily focus on niche B2B technology companies with strong market positions, mainly in the Nordic region and the UK. With our new, broader acquisition strategy, we are well positioned to add highly profitable companies with good growth prospects to the Group over time.
To better reflect our broader focus and strategic development and to provide clarity for our employees, the stock market and the M&A market, we are changing the names of our three divisions. The Building Materials division has been renamed Core Solutions, Tools & Consumables is now Industrial Equipment, and Workplace Safety has been renamed Safety Technology. The companies in Core Solutions offer products and solutions that form part of the customer's end product - for example, fastening products, metal suspended ceilings, and fire seals for marine vessels. Industrial Equipment delivers solutions such as tools, instruments and machinery needed to complete the customer's products. Safety Technology focuses on companies offering safety products and solutions, such as personal safety equipment, perimeter protection, technical safety solutions and fire safety. The changes to the division names do not entail any changes to the divisional affiliations of our companies.
"With our broader acquisition focus and stricter requirements on operating margins and profitability in our acquisitions, we are well placed to deliver on our target of MSEK 500 in EBIT with an EBIT margin of 10 percent," says Magnus Söderlind, President & CEO of Bergman & Beving.
Stockholm, 13 June 2024
Bergman & Beving AB (publ)
For further information please contact:
Magnus Söderlind, President & CEO, Tel: +46 10 454 77 00
Peter Schön, CFO, Tel: +46 70 339 89 99
This information was submitted for publication, through the agency of the contact persons set out above, at 10:00 a.m. CEST on 13 June, 2024.
Bergman & Beving, founded in 1906, is a Swedish listed group that acquires and develops leading companies with an eternal ownership horizon. The Group's autonomous companies work in expansive niches where they provide value-adding solutions for industrial and construction clients. Each company operates with great freedom on the basis of a decentralized management model that has been creating growth, profitability and sustainable development for more than 100 years. Bergman & Beving is listed on Nasdaq Stockholm, has approximately 1,300 employees and a turnover of approximately SEK 5 billion. The Group consists of about 30 companies represented in more than 25 countries. Read more about our operations at bergmanbeving.com.
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Bergman & Beving AB, formerly B&B Tools AB, is a Sweden-based supplier of industrial consumables, industrial components and related services for the industrial and construction sectors in the Nordic region. The Companyâs activities are divided into five business areas, namely: Tools and Machinery, Personal Protective Equipment, Fastening Elements, Industrial and Construction Consumables and Workplace Equipment. Its range of products includes hand tools, metal and woodworking machinery, cutting tools, compressed air technology, personal protective equipment, work clothes, first aid equipment, fastening elements, screws, adhesives, kitchen fixtures, electrical devices and lighting, workplace equipment, environmental assurance and lifting devices, among others. The Companyâs customers comprise mainly of companies operational within the industrial and construction sectors.
BERGMAN & BEVING AB 
