Nord-Lock Group acquires Expander Group
Nord-Lock Group (Sweden) has acquired 100% of the Expander Group from owner Roger Svensson. Expander Group consists of Expander System Sweden AB, and associated subsidiaries in Sweden, USA and Germany. The Expander Group specializes in the design, manufacturing and sales of the Expander® System, an expandable pivot pin system, for heavy machinery and equipment.
Expander System Sweden AB was founded in 1986 by Roger Svensson and his father Everth Svensson, based on a product invented when addressing the constant wear and tear of the pivot areas on construction equipment. In 1987 the Expander System received the Alfred Nobel Foundation Development Award.
The Expander Group has grown successfully over the years, and the product range has been developed to cover thousands of machine models. The main target markets are applications for pivotal joints within Mining, Construction, Forestry, Process Industry and Oil & Gas / Marine. Manufacturing facilities are located in Åtvidaberg (Sweden) and DeWitt (Iowa, USA). Sales is conducted through the Expander subsidiaries and through a network of distributors. The head office is located in Åtvidaberg, Sweden. In 2015, the Expander Group had 45 employees and revenue of SEK 72 million.
The Nord-Lock Group is specialized in innovative and secure bolting solutions. Technologies include the Nord-Lock wedge-locking washers, the Superbolt mechanical tensioning systems, the Boltight hydraulic bolt tensioning systems, and now also the Expander System. The Nord-Lock Group has sales and manufacturing subsidiaries in more than 20 countries across the globe. The turnover in 2015 was SEK 797 million.
Roger Svensson, founder of the Expander Group, comments: “I believe that the Expander System technology has significant international growth potential. As part of the Nord-Lock Group, with its global footprint and excellence in technical sales, I am confident that the Expander Group has the best possible conditions for continued expansion and success”.
Ola Ringdahl, CEO of the Nord-Lock Group, comments: “We are excited by the acquisition of Expander. The Expander System pivot pin technology fits perfectly in our portfolio of secure bolting solutions. We have many customers in common already today and I see interesting sales synergies. I am very pleased to welcome Expander into the Nord-Lock Group.”
Åtvidaberg, Sweden, 5th of July 2016
CEO, Nord-Lock Group