C. Gunnarssons Verkstads ('CGV') is a leading supplier of machines and production lines for lumber handling on the Nordic market. CGV has 45 employees and a turnover of approximately SEK 200 million with headquarters in Vislanda, Sweden.

CGV becomes a part of and complements Addtech’s operations within the Material Processing business unit and strengthen their offer to the forest industry.  Current owners will remain as minority owners with 11 % of the shares.

Jonas Gunnarsson, CEO of CGV, comments: "We were looking for a long-term partner who had the competence to develop CGV over time as we have grown significantly in recent years and as we intend to continue growing. Joining a group like Addtech feels safe, as they are used to acquiring and running entrepreneur-based companies. In addition, Addtech already owns Nordautomation Oy and Valutec AB, two companies that work within our segment and with the same customers. There, an exchange of experience will likely be beneficial. We look forward to continuing to run the company together with Addtech going forward”.

Addtech is a technical solutions group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 4,000 employees in more than 150 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 20 billion. Addtech is listed on Nasdaq Stockholm.

IMAP advised the sellers throughout the process.