Bard Capitol Holdings announced that it has agreed to sell its controlling interest in Blastrac (Oklahoma City, Oklahoma, USA) to Husqvarna Group (Huskvarna, Sweden). With its acquisition of Blastrac, a leading manufacturer of surface prep technologies, Husqvarna will have the opportunity to add new product offerings to its Construction Division—a division with revenues around $700 million USD.
The transaction is expected to close before the end of 2020. Financial details of the acquisition have not yet been disclosed.
Along with its recent acquisitions of HTC and Pullman Ermator, Blastrac “represents a substantial commitment by Husqvarna to the surface preparation business,” Brian MacKenzie, CEO of Blastrac, says in a statement. Among the new technologies Husqvarna will be able to access include shot blasting, scrapers, and scarifying, while Blastrac and Diamatic brands will complement and enhance the Husqvarna diamond grinding and polishing product lines. In addition, Husqvarna will benefit from Blastrac’s products, technology, customer relationships, manufacturing capability and employee base.
“Blastrac and Husqvarna have been robust but respected competitors for many years. We are excited to marry our business to a strong and long-term industry player,” says MacKenzie. “In these uncertain times, size and financial strength will be important to our employees and customers alike.”
“I am delighted to start working with Blastrac management and employees to build and expand our offering in the market for surface preparation. And I look forward to welcoming the Blastrac employees and customers to our company,” says Karin Falk, president of the Husqvarna Construction Division.
Source: Blastrac, www.blastrac.com.