More than 100 years of technology trading to create value
Addtech’s mission is the same as it was when the original business began in 1906 as the company Bergman & Beving: to serve as an agent for foreign manufacturers by selling technologically sophisticated products to Nordic industry.
Over the years, through economic booms, depressions, wars and the globalisation of an industry undergoing incessant technological change, we have stood by our original mission – our greatest competitive advantage.
Corporate acqusitions as part of operating activities
The product range has expanded as technology advanced. In the mid-1960s, we entered an era of corporate acquisitions with the goal of complementing our existing operations with businesses in adjacent market segments. Since then, acquisitions have been part of our operating activities, adding new business opportunities and skilled employees and managers.
Bergman & Beving went public back in 1976, and Addtech’s history as an independent company began early in this century, when Bergman & Beving divided its operations into three independent subsidiaries, each of which was listed on the NASDAQ OMX Stockholm exchange. The business area Bergman & Beving Industry formed the foundation of Addtech, which had revenues of almost SEK 2.5 billion at the time.
Addtech - 10 years as an independent company
In its first ten years as an independent company, Addtech has had its ups and downs. The telecom crisis hit Addtech hard but also served as a valuable lesson. An entire business segment disappeared when a whole industry moved to low-cost countries.
Staying focused on value-creating technology trading, Addtech resolved to complement its business with companies in market segments that would remain in northern Europe in future. The acquisition of MediTech in early 2005 laid the foundation for the Life Science business area and gave Addtech a crucial fourth core business with sales clearly tied to the Nordic region. Since Addtech was listed in 2001, the Group has acquired about 40 companies.
New restructured organisation
In 2008, the Group restructured by organising subsidiaries in business units that were linked to overall technology segments or market segments. The purpose of the restructuring was to enhance the market position in vital segments and to create the right conditions for ongoing profitable growth in each business unit, through organic growth as well as acquisitions.