Normet says it has agreed to acquire Rambooms Oy, a manufacturer and supplier of rock breaker boom systems, and Marakon Oy, a supplier of hydraulic hammers and excavator attachments for the construction and mining industries.
The Rambooms and Marakon businesses, with a manufacturing facility in Lahti, Finland, form the Marakon Group. The group has a wide customer base, and its products are found in most mining and construction markets, according to Normet. Marakon Group had 35 employees and net sales of €26 million ($27.8 million) in 2022.
Ed Santamaria, President and CEO at Normet, said: “Rambooms and Marakon are known for their high performing quality products. With the acquisition Normet strengthens its position in scaling and breaking as well as supports advancing towards higher levels of automation and electrification for the mining and construction industries. We look forward to welcoming the Marakon Group employees to Normet and supporting them in their future growth and development.”
Tomi Veijalainen, President of MRB-Holding Oy, added: “Throughout the past 40 years Marakon and Rambooms have grown together with both our business partners and employees. We feel trustful in the fact that this acquisition will allow for these shared success stories to continue. As this milestone marks a step towards new opportunities to advance and succeed, we are excited to follow the future accomplishments of both companies.”
The acquisition is expected to be closed this quarter, subject to the fulfilment of customary closing conditions.