Jennmar Acquires SSAB's Expandable Rock Bolt Facility in Sweden
Deal News | Feb 03, 2025 | PR Newswire Cision Jennmar
Jennmar, a significant provider of infrastructure products and a FalconPoint Partners portfolio company, has completed the acquisition of SSAB's expandable rock bolt production facility in Virsbo, Sweden. This strategic move enhances Jennmar's presence in the European market, expanding its global footprint in the mining sector. This acquisition marks a pivotal enhancement of Jennmar’s capabilities within the hard rock mining sector and incorporates a significant product line to its operations. According to Tony Calandra, CEO of Jennmar, this deal aligns with their commitment to innovation in the mining industry. The acquired facility, known for its high-quality output, will be integrated into Jennmar's global operations, ensuring continued employment for the 66 current employees. The partnership highlights FalconPoint's strategy to grow mid-market industrial companies. SSAB, originally owning the facility, is a steel company with a broad international presence. The acquisition demonstrates Jennmar's leadership in providing comprehensive and innovative solutions in the sector.
Sectors
- Mining and Metals
- Private Equity
- Manufacturing
Geography
- Sweden – The location of SSAB's expandable rock bolt production facility that Jennmar acquired.
- United States – The origin of Jennmar, a U.S.-based company, which has significant implications for international business operations.
- Europe – Jennmar expands its market presence in Europe through this strategic acquisition.
Industry
- Mining and Metals – The article involves the acquisition of a rock bolt production facility, which is relevant to the mining industry as these products are critical for mining operations.
- Private Equity – The acquisition is orchestrated by Jennmar, a company within the portfolio of FalconPoint Partners, which is a private equity firm.
- Manufacturing – The acquired facility is involved in the manufacturing of expandable rock bolts, which are important components in mining and construction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Jennmar | Acquirer | Company | A leading provider of infrastructure products and services to various industries, part of FalconPoint Partners' portfolio. |
| SSAB | Seller | Company | A Nordic and US-based steel company, known for high-quality steel products including expandable rock bolts. |
| FalconPoint Partners | Private Equity Firm | Company | A private equity firm that supports mid-market companies, investing in Jennmar's strategic expansion. |
| Tony Calandra | CEO | Person | Chief Executive Officer of Jennmar, overseeing the acquisition strategy and company expansion. |
| Sara Valentin Eklöw | Managing Director (Jennmar Sweden) | Person | Former Head of the SSAB Virsbo facility, now appointed as a Managing Director at Jennmar Sweden. |