Jennmar, a FalconPoint Partners portfolio company, has acquired SSAB’s expandable rock bolt production facility in Virsbo, Sweden. The strategic deal establishes a substantial Jennmar presence in the European market.
“This acquisition marks a significant milestone for Jennmar, strengthening our capabilities within the hard rock mining sector while also expanding our global reach and bringing our operations to the European market,” said Tony Calandra, CEO of Jennmar.
“The addition of an established rock bolt product line to our portfolio reinforces our commitment to innovation and excellence in mining. We are proud to continue meeting the evolving needs of our customers with a comprehensive range of high-quality solutions, further solidifying our position as an industry leader.”
The Virsbo facility – widely recognized for producing high-quality expandable rock bolts made of premium Nordic steel – supplies mines and tunneling projects worldwide, with established markets in Europe and the Americas. The facility will be integrated as part of Jennmar’s global operations, and all 66 employees at the Virsbo facility have been offered continued employment with Jennmar.
“I am very pleased that such an established company is interested in taking over production and continuing to develop it. They have extensive experience in the mining industry and also manufacture their own expandable bolts in the U.S.,” added Sara Valentin Eklöw, Managing Director at Jennmar Sweden and former sales director for Expandable Rock Bolts and head of the Virsbo facility at SSAB.
Source: Jennmar