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Bergman & Beving’s subsidiary Cresto Group acquires Safety Technology
Cresto Group, a company within the Workplace Safety division of Bergman & Beving, has today acquired all shares in the British company Safety Technology Ltd. including its US subsidiary Safety Technology USA LLC.
Safety Technology is a specialised supplier of fall protection and rescue solutions with special emphasis on advanced training in working at heights. Safety Technology was founded in 2001 and is today established in Clytha, Wales, UK and in Abilene, Texas, USA. The companies have a total of 14 employees and a turnover of approximately MGBP 1.7 with good profitability.
“Safety Technology complements Cresto Group's already strong position in the UK, primarily in the wind power and energy sectors. The company's successful establishment in the US also creates good conditions for further growth in North America“, says Patrik Malterling, CEO of Cresto Group.
“We are very much looking forward to joining Bergman & Beving and Cresto Group, and to jointly continue to drive development in safety at heights and rescue“, says the majority seller Bob Dickens. “We have known Cresto Group and its management for many years and our companies have similar corporate cultures with the same passion for safety at heights.“
Closing takes effect immediately and the acquisition is expected to have a marginal positive effect on Bergman & Beving's earnings per share during the current fiscal year.
Stockholm, 16 November 2021
Bergman & Beving AB (publ)
For further information, please contact:
Magnus Söderlind, President & CEO, Tel: +46 10 454 77 00
Peter Schön, CFO, Tel: +46 70 339 89 99
The information was submitted for publication, through the agency of the contact persons set out above, at 3:00 p.m. CET on 16 November 2021.
Bergman & Beving consists of leading companies with niche products and brands for professional users in manufacturing and construction in northern Europe. The Group consists of about 20 operations in about 20 countries. Bergman & Beving is listed on Nasdaq Stockholm and has about 1,200 employees and generates revenue of approximately SEK 4.5 billion.
Read more on the company’s website: www.bergmanbeving.com.