Jennmar Acquires SSAB's Swedish Rock Bolt Production Facility
Deal News | Feb 03, 2025 | PR Newswire Cision Jennmar
Jennmar, a global leader in infrastructure products and services across civil, solar, mining, and construction industries, has acquired SSAB's rock bolt production plant located in Virsbo, Sweden. This acquisition aligns with Jennmar's strategic move to bolster its position in the global mining industry, extend its European market presence, and expand its product portfolio. Jennmar, part of FalconPoint Partners’ portfolio, aims to leverage this acquisition to enhance its capabilities in the hard rock mining sector while appealing to evolving customer needs. The Virsbo plant, known for its high-quality Nordic steel expandable rock bolts, will integrate into Jennmar's global operations. Jennmar has offered employment to all 66 employees at the Virsbo facility, ensuring continued production and development led by experienced industry personnel. This strategic move is poised to provide Jennmar a strong foothold in the well-established European market and further its commitment to innovation and excellence.
Sectors
- Mining Equipment & Services
- Infrastructure & Construction
- Private Equity
Geography
- Sweden – The location of the acquired production facility.
- United States – Jennmar is headquartered in Pittsburgh and operates facilities in the U.S.
- Europe – With this acquisition, Jennmar is enhancing its presence in the European market.
Industry
- Mining Equipment & Services – The acquisition involves rock bolt production, a crucial component used in mining industries.
- Infrastructure & Construction – Jennmar provides infrastructure products and services for civil, construction, and energy sectors.
- Private Equity – Jennmar is a portfolio company of FalconPoint Partners, indicating the involvement of private equity in the transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Jennmar | Acquirer | Company | A global leader in infrastructure products and services, specializing in various industrial sectors. |
| SSAB | Seller | Company | A Nordic and U.S.-based steel company, selling its Virsbo production facility to Jennmar. |
| FalconPoint Partners | Private Equity Firm | Company | A private equity firm that owns Jennmar and supports its growth strategies. |
| Tony Calandra | CEO | Person | CEO of Jennmar, leading the company's strategic expansion. |
| Sara Valentin Eklöw | Managing Director, Jennmar Sweden | Person | Formerly the site and sales manager at SSAB’s Virsbo location, now with Jennmar. |