Xano Industri AB (STO: XANO B) has agreed in principle to acquire two workshops; Kungsörs Mekaniska Verkstad AB (KVM) and Albins Mekaniska Verkstad AB (Albins). The acquisitions are subject to an ongoing due-diligence process, which is expected to conclude in February 2012. Together the companies have annual sales of 60 million and 40 employees.
KVM is a firm from Kungsör Municipality in Västmanland County and was founded in 1971 and has around a couple dozen employees. It specializes in deep hole precision drilling up to 13,000 mm length. The company has recently invested in new CNC-lathe, CNC-milling machine, CNC-drilling machine and other equipment. It has customers in Danish wind industry, Swedish nuclear- and hydropower industry, Norwegian offshore industry and in Swedish shipbuilding industry.
Albins was founded in 1999 and is also located in Västmanland in Valskog, near Köping. The company is a subcontractor with a vast experience in CNC turning, milling, honing and deep hole drilling. The products are mainly large special items with only few pieces manufactured at a time. The company’s largest customers are mainly from the mining-, automotive- and wind industries and include Atlas Copco, Volvo, Seco Tools, Heléns Pipes and Finnveden Production.
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