Jennmar Strengthens Global Mining Position with Acquisition of SSAB's Rock Bolt Facility

Jennmar Expands Global Presence Through Strategic Acquisition

In a move set to impact the global mining landscape, Jennmar, a prominent provider of infrastructure products and specialized services, has announced its acquisition of SSAB's expandable rock bolt production facility located in Virsbo, Sweden. This strategic acquisition marks a notable point in Jennmar's journey as a vital player in the mining industry, enhancing not only its product range but also its footprint in the European market.

Tony Calandra, CEO of Jennmar, articulated the significance of this acquisition by stating, "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." He believes that integrating SSAB's established rock bolt product line into Jennmar's offerings will reinforce the company’s dedication to innovation and excellence in mining solutions.

The Virsbo facility is renowned for its production of high-quality expandable rock bolts, crafted from premium Nordic steel, that are essential for mining and tunneling projects globally. With established markets across Europe and the Americas, this facility will enhance Jennmar’s operational capabilities. Notably, all 66 employees at the Virsbo facility have received job offers to continue their employment with Jennmar, underscoring a commitment to retaining experienced professionals within the industry.

Sara Valentin Eklöw, Managing Director at Jennmar Sweden, expressed optimism regarding the acquisition, stating, "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 U.S." This partnership aims not only to maintain the quality standards established by SSAB but also to innovate and adapt to the evolving needs of the mining sector.

Founded over a century ago, Jennmar has focused on manufacturing products that ensure safety and productivity in the labor landscape. The company’s mission is to deliver high-quality solutions that meet the diverse needs of its customers worldwide. With the addition of the Virsbo facility to its portfolio, Jennmar is set to emphasize its role as an industry leader dedicated to addressing the challenges of the mining sector.

About Jennmar

Jennmar stands at the forefront of infrastructure solutions with experience in civil infrastructure, solar, mining, and construction sectors. The company has established its standing by continuously manufacturing products that enhance worker safety and efficiency. To learn more, visit www.jennmar.com.

About FalconPoint Partners

FalconPoint Partners is a private equity firm focused on investing in mid-market companies within the North American business services and industrial sectors. Their strategic approach emphasizes partnerships and relationships to exploit unique investment opportunities, contributing significantly to the firms they invest in.

About SSAB

SSAB is a leading Nordic and American steel company, committed to sustainable practices and providing value-added products. The company operates in over 50 countries and prides itself on close collaborations with customers to create resilient and sustainable solutions. SSAB’s listing on Nasdaq Stockholm and Nasdaq Helsinki anchors its financial credibility in the international market.