Simson Power Tools AB is acquired by Rehobot AB
In the mid-1950's, Gustav Ekstrand developed a hydraulic jack that combined low weight with high pressure capacity. The jack, which had a built-in oil pump, drew great attention and became a success quickly. The demand accelerated over time, and the foundation was laid to Simson Power Tools in Hofors, Sweden, where the parent company still is located today. Over the decades, much has changed, although the principle is largely the same: to combine high power, good design and exceptional product quality. Today's jacks and accessories from Simson Power Tools are reliable and powerful tools with a wide range of applications, mainly within the heavy industry worldwide. 60 years of hydraulic experience has made the company an expert in power tools, able to always offer solutions that save both time and money.
REHOBOT Hydraulics is the market leader within high pressure hydraulics in the Swedish market. Back in 1924, the founder of the company, Herbert Landin, constructed a mechanical jack, and in 1932 the company began to manufacture hydraulic jacks under the brand NIKE Hydraulics. Since then, the company has continued to develop and offer products and solutions, which include high pressure hydraulic pumps, cylinders, jacks, tools and rescue equipment. Some of the company's keywords are quality, reliability and performance.
REHOBOT AB, the parent company of REHOBOT Hydraulics AB, has acquired Simson Power Tools AB, thus strengthening its offer in terms of product portfolio and market position. Simson's compact jacks are a well-known quality product in Sweden, and across parts of Europe. Both companies' products make a perfect complement to each other's existing range of high pressure hydraulics. The two sister companies will have a combined turnover exceeding 100 million SEK in 2019 for this product category.
Roger Hydén, the company's former owner, says:
"Simson Power Tools is truly a piece of Swedish, innovative industrial history, and it has been important for me to ensure that the company has the best possible conditions to continue on its journey with Swedish production and high quality. Simson has a very competent and skillful staff, and as a local entrepreneur in Hofors, the local connection is also important. I am therefore glad to announce a long term lease agreement for the company in Hofors. It is my strong belief that Rehobot AB is the right owner to continue managing and developing Simson Power Tools in the best possible way."
Kjell-Roger Holmström, incoming owner and CEO, says:
"We are pleased to consolidate our position as market leader, in Sweden as well as in the Nordic countries, in the field of high pressure hydraulic pumps and cylinders. The two sister companies Rehobot Hydraulics AB and Simson Power Tools AB are both known in the market for their high quality and Swedish production. The biggest synergy effects will be achieved through our wholly owned sales companies in the UK, US and Germany, who will be able to work on their respective markets with both companies' product range. In addition, our distributors will also get this opportunity during the first half of 2019. Both brands and organizations have all the prerequisites for continuing as separate companies on their own."
For further information or comments, please contact:
Roger Hydén, CEO of RH Gruppen Holding AB, phone +46 704-16 91 50 or e-mail firstname.lastname@example.org
Kjell-Roger Holmström, CEO of REHOBOT AB, phone +46 708-400 800 or e-mail email@example.com