Complete takeover of Motum AS

Motum AB has completed the takeover of its Norwegian subsidiary. The co-founder Kyrre Sagen remains Executive Director of Motum AS.

The Swedish lift company Motum AB has acquired the remaining 40 percent of shares in its Norwegian subsidiary Motum AS. With this acquisition, Motum strengthens its presence in Norway as part of the Group’s Nordic growth strategy.

Kyrre Sagen, who co-founded the company, will remain in his role moving forward. "I truly look forward to continuing develop the company further in this next chapter," the managing director said. There were to be no organizational changes according to the Motum AB press release.

Following the "strong collaboration" and growth achieved with Motum AS in Norway, the complete takeover was the next step for Fredrik Eliasson. The company now had "even better conditions for continued growth together," in the view of the CEO of the Motum AB Group.

Profile of Motum Group

Motum Group: Motum AB owns twelve lift companies in Sweden, Norway and Ireland. Most recently it had announced the takeover of Ascension Lifts in Dublin. The company group is part of Mitsubishi Electric Building Solutions Corporation (MEBS) – a subsidiary of the Japanese conglomerate Mitsubishi Electric.

For more information... ...about the Motum Group, please refer to the online articles ‘Motum expanding on the Emerald Isle’, ‘Motum makes a Norwegian acquisition’, ‘New installation business in Sweden has slowed down’ and ‘Mitsubishi acquires Motum’ at lift-journal.com.