Midac snaps up Swedish traction battery marketing firm
Midac, the Italian automotive, motive and stationary battery manufacturer, bought the traction battery marketing and sales company Batteriunion i Järfälla on June 12.
Batteriunion is part of the Swedish company Addtech Group, a publicly listed technology trading group made up of about 120 independent companies that sell high-tech products within the manufacturing and infrastructure sectors.
Batteriunion, which has a turnover of more than $16 million, has already formed a close relationship with Midac, an Addtech official said.
“The reason we have decided to sell Batteriunion is that we have considered that the new company has better market opportunities if being owned directly by a battery manufacturer,” said Addtech business area manager Niklas Stenberg.
“We are convinced that the company’s employees, customers and business partners will have a great future under Midac’s ownership.”
Midac said the acquisition was a further step in widening its international market.
“It will allow Midac to offer its OEM customers a first-class service and support on its own products in the Scandinavian area,” the company said.
The company, which has branches in Italy, Germany, the Netherlands, the UK, France, Sweden and Australia, claims to be the only company in the world that makes automotive, motive power and stationary batteries in the same manufacturing plant.