LATEST BUY MAINTAINS SWEDISH ACQUIRER’S KBS CONNECTION
Swedish-based group Teqnion has returned to make a second 2023 acquisition through KBS Corporate.
Swedish-based group Teqnion has returned to make a second 2023 acquisition through KBS Corporate in the form of Surge Protection Devices (“Surge”).
Teqnion, listed on the Nasdaq First North Growth Market, operates in niche technology markets and has been active in the M&A space across Europe for several years.
The industrial group, based just outside central Stockholm, operates through multiple independent subsidiaries, acquiring scalable companies which can succeed in narrow technology niches.
Its previous acquisition via KBS, in May 2023, was Stanwell Group, which offers innovative solutions to the beverage industry, including fluid dispense pumps, valves and complete systems.
Stanwell is based in Holmfirth, less than 20 miles from Oldham, the home of family-run Surge Protection Devices, which was founded in 2006 and includes Manchester Airport, the Ministry of Defence and Vodafone among the customers for its electrical safety solutions and products.
Explaining the appeal of Surge Protection Devices, Charles Needham, KBS Corporate Deal Executive who oversaw the transaction, said: “Since I started looking after the sale the business did not stop growing, and given the margins remained very consistent, almost identical, this enticed buyers forward.
“The regulations around surge protection are getting increasingly tighter and with our client being able to stay a step ahead of modern technology within the industry, their products will be a necessity for years to come.”
Hence, therefore, the company’s attractiveness to Teqnion, which the Swedish company described in their public announcement as “the consistently high standard of the service and solutions provided which have earned the business a rock-solid reputation and deep, long-standing relationships”.
Johan Steene, CEO of Teqnion, added: “Surge is a fantastic company, a typical Teqnion business, run by fantastic people. The demand for their products in the UK is surging and the company is well-positioned to ride the wave.
“We couldn’t be happier to welcome the Johnson family and their team to our family.”
Ian Johnson, CEO of Surge Protection Devices, commented: “We feel Surge and Teqnion is a great match and are happy to have found a forever home with people that share the belief that the key to building a successful company is through the strength of its people and the enduring relationships they build and maintain.”
Charles Needham also felt the two companies are forming an ideal connection. “The buyer had to fit the bill perfectly and I think we achieved this in Teqnion,” he said. “The client was really keen on them as an acquirer.
“Teqnion were excellent to work with and I eagerly look forward to working with them again.”