FAM, which manages the Wallenberg Foundations, is purchasing Sandvik’s golden nugget Process Systems (SPS) for five billion kronor after a tough bidding war. The sales price exceeded even Sandvik’s expectations.
SPS had a turnover of 1.7 billion kronor in 2016, and DI reports it has an operating margin of around 20%.
SPS is the first larger acquisition that FAM owns 100%. “We feel mature enough to work with a wholly owned subsidiary,” says Lars Wedenborn, FAM’s CEO.