Alimak Group, the vertical access solution company, has acquired the global BMU (Building Maintenance Unit) provider Facade Access Group for an enterprise value of AUD 120 million (approximately SEK 819 million).

Facade Access Group has a strong global market position in permanent Building Maintenance Units, BMU solutions, based on high safety standards and with a long lifecycle. The company addresses the market via two brands; CoxGomyl and Manntech. Through this acquisition Alimak Group strengthens and broadens the product portfolio, expands the existing footprint and business into a global adjacent niche market within vertical access while benefitting from a healthy underlying growth in the BMU-market.

“The complimentary combination of the two companies, especially when between the permanent installed solutions of Facade Access Group to Alimak’s Industrial Equipment, will enable scale and synergistic advantages in the supply chain, expand overall business opportunity, including further development of the aftersales offering. Hence, I see the acquisition as a strong strategic fit and I am convinced that it will generate value to our shareholders”, says Tormod Gunleiksrud, CEO of Alimak Group.

The transaction is subject to customary regulatory approvals and expected to close before year end 2016. After closing the acquisition is expected to be immediately accretive to EPS and contribute positively to cash flow while the Group’s EBIT margin is expected to be diluted.

Alimak Group was advised by Lazard and Kirkland & Ellis. Due to effects on volume and earnings from the acquisition, Alimak Group will come back with an update of the financial targets at closing.

Tags: Alimak Group, Facade Access Group