Our history
Momentum Group has its origins in Bergman & Beving with a history of more than a century. What is now Momentum Group began with the subsidiary Momentum Industrial which was acquired by Bergman & Beving in 2004. Since then, Momentum Group has successfully completed many acquisitions and is today a leading listed industrial group currently comprising more than 30 companies that offer sustainable products, services and solutions for customers in industry and industrial infrastructure in the Nordic region.
Bergman and Beving was founded
In 1906, the technical trading company Bergman & Beving was founded by Arvid Bergman and Fritz Beving.
Momentum Industrial acquired – focus on industrial components
2004, Bergman & Beving acquired Momentum Industrial, which was already one of the largest distributors of industrial components and related services to Swedish industry. The acquisition was part of the effort to provide Nordic industry with profitable solutions, including related to industrial components. A few years earlier, in 1998, the Danish company JNF had been acquired with partly the same focus.
-2017
Increased focus on electromechanical service
The investment in electromechanical services for Swedish industry began with the acquisition of Rörick Elektriska Verkstad in 2008. In 2015, Carl A. Nilsson El. Rep. Verkstad was acquired, followed by Arboga Machine Tool in 2017, with the latter being integrated.
Momentum Group is formed
The then Momentum Group was formed in April 2016, when B&B TOOLS introduced a new organisation with two operating segments, in order to create even better conditions for increased growth and profitability.
Momentum Group is spun off and listed
In June 2017, the then Momentum Group was listed on Nasdaq Stockholm.
Momentum Industrial bolsters its position in Sweden
Momentum Industrial acquired Brammer Sweden’s MRO business through a business transfer.
ETAB is acquired
Through the acquisition of ETAB Industriautomation, the position in industrial hydraulic solutions was further strengthened.
The Components and Services business area is created within the then Momentum Group
With the acquisition of the listed Swedol, the Momentum Group had grown to almost SEK 10 billion in turnover with 2,700 employees. To further promote growth and profitability, the two business areas Alligo and Components & Services were created and the legal structure is being prepared for a future split of the Group.
Rörick grows through acquisitions
In 2020, a service business was acquired from SKF, followed by the acquisition of Assemblin El’s workshops (formerly NEA workshops) in 2021.
Acquisition of four independent companies
In 2021, Mekano, Mekano i Sävedalen and Intertechna were acquired within technical service, while the acquisition of Öbergs strengthens the position in pneumatic solutions.
The Components and Services business area becomes Momentum Group
In December 2021, the parent company Momentum Group changed its name to Alligo while the parent company of the Components & Services business area changed its name to Momentum Group.
New Momentum Group listed at Nasdaq Stockholm
Momentum Group was spun off from Alligo and was listed on the Nasdaq Stockholm Main Market on 31 March 2022. During 2022, Momentum Group acquired the specialist companies HNC Group, BPS and Jokrab and Mytolerans in technical service.
A transformative year
Despite the economic turbulence that impacted the market in 2023, our operations remained stable with satisfactory demand during the year. During the year, we completed 11 acquisitions at the same time as we built up our business development organisation, which created the conditions for the new structure that we launched at the end of 2023.
A successful year
Despite a challenging operating environment, we delivered organic revenue growth in every quarter. We exceeded all of our financial targets, completed eight acquisitions and generated a strong cash flow to enable further expansions and value creation.
