Secure, bolted, double acquisition 26 March 2024

Investment AB Latour has, through its wholly owned subsidiary Nord-Lock Group, acquired Precision Bolting Ltd (PBL) and Condor Machinery Ltd – both based in Edmonton, Canada, with a combined total revenue of around CA$7 million (€4.77 million).

Precision Bolting is a Nord-Lock Group distributor in north-western Canada and Condor is a niche manufacturer of specialised metal components – a combination that adds great value for customers served. The companies will strengthen Nord-Lock Group’s position in Canada and contribute to the Group’s global offer within the mining segment in particular.

Nord-Lock Group comments: “We want to give our warmest welcome to all PBL and Condor employees. We have been able to get to know the companies well over the years and are impressed with what they have achieved. We are convinced that the companies’ strengths will contribute greatly to the overall Nord-Lock Group offering and that in turn we will continue to support the companies’ ongoing growth going forward.”

Ken Gamroth and Brent Morgensen, CEOs at PBL and Condor, added: ”We have worked closely with Nord-Lock Group for many years and see this as a natural next step for the development of PBL and Condor. Together with Nord-Lock Group, and its strong market position, we are looking forward to continuing this growth journey together.”  



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