Industry News

Bufab makes Swedish acquisition 22 March 2016

Bufab Group has acquired 100% of the shares in the privately owned company Magnetfabriken AB in Västerås, Sweden. The acquisition has taken immediate effect, and will be reported in Bufab’s segment Sweden.

Magnetfabriken AB was founded in 1992 and has since developed into one of the leading suppliers of magnets and magnet systems in the Nordic region. The company has annual sales of just under SEK 20 million (approximately 2.15 million euros).
“Magnetfabriken is a solid addition and complements Bufab’s operation in Sweden in a very good way,” says Johan Lindqvist, regional director for Bufab Sweden. “We see synergies and potential, both in relation to new and existing customers and through the expansion of application areas for magnets and magnet systems. We will initially focus on the Nordic market, but I naturally see opportunities throughout the Bufab Group.”
“Bufab is a recognised player in fasteners and C-Parts, and holds a very strong position in the Swedish market,” says Magnus Gustafsson, president of Magnetfabriken AB. “Through Bufab we will have entirely different possibilities to cultivate the market and evolve our business in the same successful manner as we have done to date, while also benefiting from being part of the Bufab Group.”

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