Husqvarna president and CEO Henric Andersson said the acquisition of Netherlands-headquartered Blastrac strengthens and complements the organic growth ambitions of Husqvarna, which is further expanding into complementary surface preparation solutions.
The Husqvarna Group provides cutting equipment and diamond tools for the construction and stone industries.
"This will enable us to provide customers with a complete range of solutions for any given surface preparation task,” Andersson commented on the acquisition.
The Blastrac product portfolio includes high-quality and efficient solutions for shot blasting, scarifying, scraping, grinding & polishing and dust collection. Blastrac’s net sales during last 12 months amounted to approximately SEK600m (€58.92m). The company has 380 employees globally with manufacturing and sales offices in North America, Europe and Asia with sales in more than 80 countries.
The president of Husqvarna's construction division Karin Falk said: “The acquisition aims to further build and expand our offering in the market for surface preparation. Blastrac's business fits well into our growth strategy and will enable us to expand to our existing and new customers.
“In addition, the Blastrac team will bring extensive product and market expertise with these complementary solutions.”
The parties aim at closing the acquisition by the end of 2020. The acquisition is subject to approval by relevant competition authorities.