BE Group acquires Hercules Rebar from NCC
BE Group has acquired the assets of Hercules Rebar facility in Norrköping from Hercules Grundläggning AB, a subsidiary within NCC. Hercules Rebar offers reinforcement in the shape of straight steel, reinforcement mesh and cut and bent reinforcement to projects all over Sweden and the turnover in 2021 amounted to approximately SEK 140 M.
“The acquisition of Hercules Rebar is strengthening BE Group’s offering within reinforcement in Sweden and means that we will be adding production and storage capacity close by our facility in Norrköping”, says Peter Andersson, President and CEO at BE Group.
The acquisition include machines, inventory, employees and rental agreement for the reinforcement facility and a multi-year cooperation agreement on reinforcement with NCC. The business is a smaller manufacturing unit which employs about 20 people, own employees and temporary workers.
“Hercules Rebar is a good business but differs from our core operations. Our assessment is that BE Group can develop the business better than we could do ourselves and also grow with more customers”, says Tomas Dädeby, Head of Division NCC Infrastructure.
The take-over takes place on May 1 at the latest and the business will be a part of BE Group Sverige AB. The acquisition is estimated to have a marginally positive impact on the underlying result for 2022.
For further information, please contact:
Peter Andersson, President and CEO
Tel: +46 706 53 76 55, email: [email protected]
About BE Group. BE Group AB (publ), which is listed on the Nasdaq Stockholm exchange, is a trading and service company in steel, stainless steel and aluminium. BE Group offers efficient distribution and value-adding production services to customers primarily in the construction and manufacturing industries. In 2021, the Group reported sales of SEK 5.4 billion. BE Group has approximately 630 employees, with Sweden and Finland as its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com.
About NCC. NCC is one of the leading construction companies in the Nordics. Based on its expertise in managing complex construction processes, NCC contributes to the positive impact of construction for its customers and society. Operations include commercial property development, building and infrastructure project contracting, and asphalt and stone materials production. In 2021, NCC had sales of SEK 53 bn and 13,000 employees. The NCC shares are listed on Nasdaq Stockholm.