Nordstjernan has made a commitment to invest in the industrial company engcon. engcon is the world’s leading manufacturer of tiltrotators with a global market share of approximately 45 percent. The company was founded in 1990 with the ambition to change the world of digging through product innovation and focus on end-users. engcon develops innovative value-creating and sustainable solutions that contribute to increased resource efficiency, safety and profitability.
During the 12-month period ended March 31, 2022, engcon’s revenues amounted to SEK 1,571 million and adjusted operating profit to SEK 351 million, corresponding to an adjusted operating margin of 22.3 percent.
Nordstjernan’s investment amounts to approximately SEK 350 million, corresponding to 5 percent of the company’s shares, and will be carried out in connection with the listing of engcon on Nasdaq Stockholm.
“I am excited that Nordstjernan, as a long-term actor, has chosen to invest in engcon in connection with the listing and look forward to continue to develop the company with their support,” says Stig Engström, founder and main owner of engcon.
“Nordstjernan have been following engcon for a long time and are now very pleased to invest in the company in connection with its listing. Within our Industry sector, Nordstjernan’s strategy is to invest in well-managed industrial companies with long-term global growth potential. We can see that engcon fits in very well with this and look forward to supporting the company over the long term,” says Nordstjernan’s CEO Peter Hofvenstam.
Peter Hofvenstam
President and CEO
Nordstjernan AB
Questions will be answered by:
Peter Hofvenstam, CEO, Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se
Stefan Stern, Head of Communications, Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se
Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.
