The Swedish safety solutions giant strengthens its digital and technical offerings with the purchase of high-tech precision equipment distributor Trimtec.
HAKI Safety, a leading provider of safety solutions and scaffolding systems, has announced the acquisition of Trimtec, a Swedish distributor of high-tech precision equipment.
The deal, expected to be finalised in March 2025, marks a significant step in HAKI Safety’s strategy to broaden its geodesy offerings and strengthen its presence in the Swedish market.
The acquisition, valued at SEK 50 million (£3.75 million) on a debt-free basis, could see an additional SEK 50 million (£3.75 million) paid as contingent cash consideration if Trimtec meets specific financial performance targets between 2025 and 2026.
The initial purchase price will be paid in cash, financed through existing credit facilities, with the possibility of refinancing via a new share issue in HAKI Safety.
A Strategic Move
Trimtec, founded in 2002, specialises in the sale and rental of precision equipment for cadastral surveying, mapping, and related services. The company, which operates from its headquarters in Stockholm and five additional sales offices across Sweden, reported a turnover of approximately SEK 130 million (£9.75 million) in 2024.
With a product range largely supplied by Trimble, a global leader in precision equipment, Trimtec has established itself as a key player in the Swedish market.
Sverker Lindberg, President and CEO of HAKI Safety, highlighted the strategic importance of the acquisition. “With the very good experiences from our Norwegian operation, Norgeodesi, which also distributes Trimble products, we see significant growth and development opportunities for Trimtec,” he said.
“The digital and technical offering is a strong complement to our safety products and solutions. There are clear synergies with our existing offerings in work zone safety and system scaffolds, which we are excited to develop further.”
A New Chapter for Trimtec
Peter Hammarbäck, co-founder of Trimtec, expressed optimism about the company’s future under HAKI Safety’s ownership. “After successfully building Trimtec for over 20 years, we are confident that HAKI Safety is the right partner to further develop and strengthen our business,” he said.
Trimtec’s preliminary financial results for 2024 show net sales of SEK 130 million (£9.75 million), with an EBITDA of approximately SEK 10 million (£750,000) and an operating profit of SEK 7 million (£525,000).
The company’s return on capital employed (ROCE) stood at an impressive 60 percent, underscoring its strong market position.
Financial Implications
The acquisition is expected to temporarily increase HAKI Safety’s debt ratio, measured as financial net debt/adjusted EBITDA, beyond the group’s target of 2.5 times.
However, the company anticipates that the ratio will decrease over time as Trimtec contributes to profit generation. HAKI Safety does not foresee significant integration costs, suggesting a smooth transition for both companies.
To finance the acquisition, HAKI Safety is considering a new share issue, which could take place in the first half of 2025. The issue may be structured as a directed share issue or a rights issue, depending on market conditions.
Existing shareholders Tibia Konsult AB and Marknadspotential AB have indicated their willingness to support the initiative through binding subscription and guarantee commitments.
A Growing Market Presence
The acquisition of Trimtec aligns with HAKI Safety’s broader strategy to expand its product portfolio and geographic reach. By integrating Trimtec’s expertise in precision equipment and digital solutions, HAKI Safety aims to offer a more comprehensive suite of services, from project planning to the delivery of safety products.
This move also reflects the growing demand for advanced technical solutions in the construction and safety industries, particularly in urban development and infrastructure projects. With Trimtec’s established market presence and HAKI Safety’s industry expertise, the combined entity is well-positioned to capitalise on emerging opportunities.
Looking Ahead
As the transaction moves toward completion, industry observers will be watching closely to see how HAKI Safety leverages Trimtec’s capabilities to drive innovation and growth. For now, the acquisition represents a significant milestone in HAKI Safety’s journey to becoming a more diversified and integrated provider of safety and technical solutions.
