Ownership change in Momentum Group AB (publ)

Nordstjernan AB announced today that it has acquired Class A and B shares corresponding to 4.2 percent of the capital and close to 15.0 percent of the votes in Momentum Group AB (publ) from the current owner Tisenhult-gruppen. In terms of the number of votes, the transaction makes Nordstjernan the company’s largest owner, with 495,848 Class A shares and 700,000 Class B shares.

“We view Momentum Group as a well-run company with significant potential. Momentum’s Board of Directors and management team have done a good job to make it one of the leading players in the industry. We believe in the sector and through our successful investment in Swedol, we have solid knowledge of the industry. Swedol and Momentum will continue to operate as independent companies as they do today,” says Tomas Billing, CEO of Nordstjernan.

Tisenhult-gruppen has been Momentum Group’s largest owner in terms of votes since the company was spun off from the former B&B TOOLS Group and listed separately in June 2017.

“I see Nordstjernan as a highly suitable owner for Momentum Group that can contribute to the further development of the company through its industry know-how and experience of generating long-term value growth. At the same time, I would also like to express my sincere thanks to the Board of Directors, management and employees of Momentum Group for a successful and trustful cooperation over many years,” says Anders Börjesson, principal owner and Chairman of Tisenhult-gruppen.

“We welcome Nordstjernan as a new owner of Momentum Group. With its financial strength, industrial expertise and long-term investment horizon, Nordstjernan can spur the company to make further improvements,” says Jörgen Wigh, Chairman of Momentum Group.

The ownership change will not result in any immediate changes to the composition of the Board during the current financial year. However, Tisenhult-gruppen has relinquished its seat on the Election Committee ahead of the Annual General Meeting in August 2019 to Nordstjernan. Any subsequent changes to the composition of the Election Committee will be disclosed as soon as they occur.

Stockholm, 22 February 2019

Momentum Group AB (publ)

For further information, please contact:
Jörgen Wigh, Chairman of the Board, Momentum Group AB – Tel: +46 8 700 66 70
Ulf Lilius, President & CEO, Momentum Group AB – Tel: +46 10 454 54 70

This information was submitted for publication on 22 February 2019 at 09:50 a.m. CET.

Momentum Group is a leading reseller of industrial consumables and components, service and maintenance to professional end users in the industrial and construction sectors in the Nordic region. The Group has annual revenue of approximately SEK 5.9 billion and approximately 1,700 employees. Momentum Group AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.momentum.group.