Simson Power Tools AB is acquired by Rehobot AB
As early as the mid-1950s, Gustav Ekstrand developed a hydraulic jack that combined low weight with high pressing capacity. The jack, which had a built-in oil pump, attracted a lot of attention and quickly became a success. Demand took off and the foundation was laid for Simson Power Tools in Hofors, where the parent company is still located today. In the decades since, much has changed, although the principle remains the same: to combine high power with good design and high quality. Today's jacks and accessories from Simson Power Tools are reliable and powerful tools with a wide range of applications, mainly in heavy industry all over the world. 60 years of experience in hydraulics has made the company an expert in power tools that can always propose solutions that save both time and money.
REHOBOT Hydraulics is the market leader in high-pressure hydraulics on the Swedish market. As early as 1924, the company's founder Herbert Landin designed a mechanical jack, and in 1932 the company began manufacturing hydraulic jacks under the NIKE Hydraulics brand. Since then, the company has offered products and solutions that include high-pressure hydraulic pumps, cylinders, jacks, tools and rescue equipment. The company's keywords are quality, reliability and performance.
REHOBOT AB, the parent company of REHOBOT Hydraulics AB, has acquired Simson Power Tools AB, thereby strengthening its offering in terms of product range and market position. Simson's compact jacks are a well-known quality product in Sweden and large parts of Europe, and both companies' products are perfect complements to each other's existing range of high-pressure hydraulics. In 2019, the two sister companies will have combined sales of over SEK 100 million in this product category.
Roger Hydén, the company's former owner, says:
"Simson Power Tools is a piece of Swedish, innovative industrial history, and it has been important for me to ensure that the company has the best possible conditions to continue on its journey with Swedish production and high quality. Simson has a very competent and knowledgeable staff and, as a local business owner in Hofors, the local anchoring is also important, so I can be pleased to have secured a long-term lease in Hofors. It is my strong conviction that Rehobot AB is the right owner to continue to manage and develop Simson Power Tools in the best possible way."
Kjell-Roger Holmström, incoming owner and CEO, said:
"We are pleased to be able to consolidate our position as market leader, both in Sweden and the Nordic countries, in the field of high-pressure hydraulic pumps and cylinders. The two sister companies Rehobot Hydraulics AB and Simson Power Tools AB are both recognised in the market for their high quality and Swedish production. The greatest synergies will be achieved through our wholly owned sales companies in the UK, the USA and Germany, which will be able to directly address each market with both companies' product ranges. In addition, in the first half of 2019, our distributors will also have this opportunity. Both brands and organisations are well placed to continue as independent companies."
For further information or comments, please contact:
Roger Hydén, CEO of RH Gruppen Holding AB on telephone 0704-16 91 50 or e-mail roger.hyden@enerco.se
Kjell-Roger Holmström, CEO of REHOBOT AB on telephone 0708-400 800 or e-mail krh@obadja.se
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