PRESS RELEASE – FAM AB has completed the acquisition of Sandvik Process Systems
FAM AB (FAM) has today completed the acquisition of Sandvik Process Systems (SPS) from Sandvik AB.
– We are happy to now be the owners of SPS. The company is a leading global supplier of industrial process solutions with good market positions that will fit well into FAM’s holdings. We look forward to developing SPS as a stand-alone and focused company together with the Board of Directors, management and the employees, says Lars Wedenborn, CEO FAM AB.
– SPS is a specialized business with strong performance over an extended time period. To take SPS to the next level, FAM is a perfect fit as new owners, providing a stable, long-term foundation to enable us to further increase our efforts in innovation, growth and profitability, says Henrik Furhoff, President & CEO SPS.
Following a branding transition period, the business will be conducted under the new name of IPCO.
FAM AB FAM AB is a privately owned holding company that manages assets as an active owner with a long-term ownership horizon. FAM is owned by the three largest Wallenberg foundations. FAM’s largest holdings are SKF, Stora Enso, Munters, Bergvik Skog, Höganäs and Nefab. FAM’s assets amount to approximately SEK 45 bn.