Jennmar acquires SSAB's rock bolt plant in Sweden
Deal News | Feb 03, 2025 | PR Newswire Cision Jennmar
Jennmar, a leading global provider of infrastructure products and specialized services in several industries including civil, solar, mining, and construction, announced the acquisition of SSAB's expandable rock bolt production plant in Virsbo, Sweden. This strategic acquisition is aimed at enhancing Jennmar's capabilities in the global mining sector and expanding its footprint in the European market. The plant is known for producing high-quality rock bolts from premium Nordic steel, serving mining and tunnel construction projects worldwide. Jennmar intends to integrate the Virsbo plant into its global operations and retain the 66 employees currently working there. The acquisition marks a significant milestone for Jennmar, aligning with its commitment to innovation and quality within the mining sector. FalconPoint Partners, the private equity firm owning Jennmar, highlights the strategic value of this acquisition within its broader investment strategy in mission-critical service sectors.
Sectors
- Mining
- Construction
- Private Equity
Geography
- Sweden – The location of the acquired SSAB rock bolt production plant.
- United States – Jennmar is a global company with operations based in the US, and FalconPoint Partners is a North American private equity firm.
- Europe – The acquisition expands Jennmar's operations and market presence within Europe.
Industry
- Mining – The acquisition is aimed at enhancing Jennmar's capabilities in the global mining sector.
- Construction – Jennmar provides infrastructure products and services for the construction industry, and the acquired plant serves construction projects like tunnel development.
- Private Equity – The acquisition is facilitated by FalconPoint Partners, a private equity firm, indicating involvement in capital investments in industrial sectors.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Jennmar | Acquirer | Company | A global provider of infrastructure products and services within civil, solar, mining, and construction industries. |
| SSAB | Seller | Company | A Nordic and US-based steel company known for high-quality steel products. |
| FalconPoint Partners | Private Equity Firm | Company | Private equity firm owning Jennmar, focusing on investments in mission-critical service sectors. |
| Tony Calandra | CEO | Person | Chief Executive Officer of Jennmar. |
| Sara Valentin Eklöw | Managing Director of Jennmar Sweden | Person | Formerly Director of Sales and Plant Manager at SSAB's Virsbo plant, now Managing Director at Jennmar Sweden. |