Jennmar, a US-based mining services provider and a FalconPoint Partners portfolio company, has announced the acquisition of steel company SSAB‘s expandable rock bolt production facility in Virsbo, Sweden.
The Virsbo facility produces expandable rock bolts crafted from “premium” Nordic steel. It serves mining and tunnelling projects across the globe, with a customer base in Europe, and North and South America.
This move expands Jennmar’s presence in the European market and aligns with its strategy to strengthen its position within the global mining industry.
Jennmar CEO Tony Calandra said: “This acquisition marks a significant milestone for Jennmar, strengthening our capabilities within the hard rock mining sector while also expanding our global reach and bringing our operations to the European market.
“The addition of an established rock bolt product line to our portfolio reinforces our commitment to innovation and excellence in mining. We are proud to continue meeting the evolving needs of our customers with a comprehensive range of high-quality solutions, further solidifying our position as an industry leader.”
SSAB signed an agreement to divest the rock bolt facility to Jennmar last month as part of its strategy to focus on core business activities.
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Jennmar Sweden managing director and former sales director for Expandable Rock Bolts and Virsbo facility head at SSAB Sara Valentin Eklöw said: “I am very pleased that such an established company is interested in taking over production and continuing to develop it. They have extensive experience in the mining industry and also manufacture their own expandable bolts in the US.”
The Virsbo facility will be integrated into Jennmar’s global operations. All 66 employees at the facility have been offered continued employment under Jennmar, ensuring a seamless transition and retention of expertise.
