Novotek AB acquires Kerrco Automation Ltd
Kerrco Automation Ltd are pleased to announce that they have been acquired by Swedish-based Novotek AB which will see the new parent company gain access to the valuable markets in UK and Ireland.
The acquisition is seen as a positive move for Novotek. The UK and Ireland are growth markets for Novotek and there will be significant cross selling opportunities. For Kerrco Automations, being part of a larger group will obviously add strength to the Glasgow-based business and allow the company to develop the markets in IoT and cyber security.George Walker, MD Kerrco Automation, who will also be part of the Group’s management team said, “This opens a new and exciting chapter in the company’s history. Under Novotek’s ownership we will see our financial strength, product range and market opportunities multiply. Kerrco Automation is fortunate to have found such a quality partner. We are excited about joining the Novotek family and the opportunities it will bring”.
Kerrco’s operations which are mainly conducted in the UK and Ireland and are of a similar nature to Novotek’s activities, who operate in the Nordics and the Benelux. Kerrco will therefore expand the Novotek Group in a complimentary way. In addition, the initiatives that Novotek works with within IoT and cyber security has also been initiated on a smaller scale by Kerrco, which, with the acquisition, can increase the pace of this development in its markets.
“IoT and digitisation are areas that are still in focus in the UK and we see great opportunities as Novotek’s entry to accelerate development in these areas,” added George Walker.Commenting on the acquisition, Tobias Antius, CEO of the Novotek Group said, “George has done a great job of building Kerrco and his competency and leadership is something that will also benefit the entire Novotek group.” “With the acquisition, the Novotek Group is active in most of Northwest Europe with a total market that covers over 100 million people.Kerrco will be integrated into the Novotek Group this fall and as a part of this, the name will be changed to Novotek UK & Ireland Ltd. As previously mentioned,Kerrco currently has almost the same product portfolio, but some of the supplier relationships that Novotek has will be included in Kerrco’s areas. This applies to all areas in which Novotek is active. “Kerrco is the single largest investment in Novotek’s history and improves Novotek on all points, and with what Novotek can contribute to their development, we see this as the investment that has the greatest potential,” says Tobias Antius and continues. “We therefore welcome our new employees in the UK into our Novotek family!