Laser system supplier Prima buys Finn-Power
EQT has signed and closed the sale of Finn-Power Group to Prima Industrie
EQT has signed and closed the sale of Finn-Power Group to Prima Industrie. Finn-Power develops, manufactures, and markets flexible and automated sheet metal working machines and manufacturing systems under the brand name Finn-Power. In 2006 Finn-Power generated sales of approximately EUR 208 million. Prima, listed on the Milan Stock Exchange, is a supplier of high-power laser systems for cutting, welding, and drilling of 3D and 2D parts. In 2006 Prima had sales of approximately EUR 148 million.
EQT acquired Finn-Power in May 2002 from the founder of the company. Under EQT's ownership Finn-Power has grown sales from approximately EUR 136 million in 2002 to an estimated EUR 240 million in 2007. Since 2002 Finn-Power has continued to invest heavily in product development adding even more strength to the Finn-Power brand.
"We highly appreciate Prima as new owner of Finn-Power. Both from the technological and business point of view the combination is nothing short of excellent. There are obvious synergies to be utilized, and our product ranges complement each other in an exceptional manner with few, if any, overlaps. Together, they constitute a highly competitive whole," said Tomas Hedenborg, CEO Finn-Power.