Axel Johnson International acquires business in Spain
Axel Johnson International, a part of the Axel Johnson Group, has through its subsidiary AxLoad entered into an asset purchase agreement to acquire Cables y Eslingas' steel wire rope and lifting equipment distribution business. Cables y Eslingas is a part of the Celsa Group.
AxLoad is one out of four business groups within Axel Johnson International and consists of 30 companies specialised in lifting, anchoring and cargo securing solutions. With annual sales of 350 MEUR and operations in 15 countries, AxLoad is the European market leader in lifting and cargo securing. Their recent acquisition will provide an important foothold for AxLoad in the Spanish market, with eight strategically located sales and distribution centres throughout the country (including the Canary Islands) and a joint logistics centre in Barcelona.
AxLoad was primarily advised by Garrigues in Barcelona, with assistance from Mannheimer Swartling, as to legal matters. The firm's team was lead by Martin Ericsson, assisted by Joel Englund and Arvid Runéus.