Nord-Lock Group has acquired 100% of the Expander Group from owner Roger Svensson.
The Expander Group specialises in the design, manufacturing and sales of the Expander System, an expandable pivot pin system, for heavy machinery and equipment. Expander Group consists of Expander System Sweden AB, and associated subsidiaries in Sweden, USA and Germany.
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.
“I believe that the Expander System technology has significant international growth potential,” said Roger Svensson. “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.”
The Expander Group has grown 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 are 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 (approx £6.6m).
Ola Ringdahl, CEO of the Nord-Lock Group, added: “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.”
The Nord-Lock Group specialises 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 (approx £72.8m).
There’s more from Nord-Lock in the forthcoming September-October edition of Torque Magazine.