AxLoad acquires majority of shares in Mennens Group
AxLoad has acquired the majority of the shares in Mennens Group from De Hoge Dennen Capital, a Dutch privately held investment company. Mennens will become a part of Certex Group, the largest of AxLoad’s three divisions.
AxLoad, part of the Axel Johnson Group, is a leading supplier of lifting and cargo securing products and services in Northern Europe. The Mennens acquisition is a part of AxLoad’s ambition to grow in continental Europe. With 420 employees and sales of EUR 83 million in 2011, Mennens is the leading provider of steel wire rope, cranes, lifting products and related services in the Benelux region. After the acquisition, AxLoad will have annual revenues of approximately EUR 350 million, 1,500 employees, and a presence in Holland, Belgium, Sweden, Norway, Denmark, Finland, Great Britain, France, Spain, Germany, Estonia, Latvia, Lithuania and Russia.
AxLoad was advised in the transaction by Mannheimer Swartling in co-operation with De Brauw Blackstone Westbroek. Mannheimer Swartling’s team included partners Martin Ericsson, Stefan Perván Lindeborg and Thomas Pettersson and associates Viktor Nykvist, Henrik Dock and Emilie Andersson.