Thursday, December 10, 2015

News: Acorn acquired by Axel Johnson International

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Rotherham-based Acorn Industrial Services Group, one of the largest power transmission distributors in the country, has been acquired by the Swedish industrial group, Axel Johnson International, for an undisclosed sum.

Established in 1983, Acorn supplies bearings, power transmissions and linear systems to a global customer base. It was subject to a management buy out in 2005 and the growing company moved across the borough to Hellaby in 2013, investing over £1.25m in a new HQ.

Axel Johnson International is "a next generation technology trade group" that incorporates 90 different companies providing products, services and solutions that help industrial customers improve the efficiency, reliability, quality and safety of their operations.

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The deal is expected to strengthen Axel Johnson International's position in the UK market and is seen as an important step in growing its business within bearings and transmissions.

Acorn will become part of the business group AxIndustries, specialists in bearings, transmissions and related services. Acorn directors Martin Povey and Des Spillings will continue to lead and drive forward the company's continued growth strategies.

Des Spillings, managing director of Acorn Industrial Services Group, said: "Acorn has grown tremendously over the last ten years and to continue our growth, and more importantly, to grow at a quicker pace, we needed to align ourselves with a business that could bring with it skills and resources that we do not have currently. With the European market place changing and consolidating quicker than at any time in the past 20 years, we had to find the right partner for the future and we believe Axel Johnson International to be this partner."

Mats R. Karlsson, CEO and president of Axel Johnson International, added: "Acorn fits very well into the structure of our business and will be a valuable addition in our ambition to grow the bearings and transmissions business. Over the years, Axel Johnson International has invested in many leading niche players with strong positions in local markets and outstanding customer relations, companies that continue developing and thriving in their new setting."

Acorn has nine sales branches throughout the UK and an e-commerce platform supporting customers throughout Europe. Acorn is well-known for its high technical competence, excellent logistics and market leading e-commerce platform. Annual sales amounts to £21m, the number of employees is approximately 100.

Headquartered in Stockholm, Axel Johnson International has annual sales of SEK 6.5 billion (£508m), 2,640 employees and operations in more than 20 countries throughout Europe.

Acorn Industrial Services Group website
Axel Johnson International

Images: Acorn Industrial

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