Skanderborg, Denmark — (METERING.COM) — October 13, 2010 – Kamstrup A/S has announced its intent to acquire the meter manufacturer SVM Metering AB from its Swedish owner, Ledstiernan AB, which wishes to focus on other business areas.
The acquisition includes about 50 employees, all production facilities in Sweden and all of SVM’s related assets.
SVM (Svensk Värmemätning) has been in the business of manufacturing and marketing meters to Swedish utilities for more than 60 years. Since 2001, when Ledstiernan entered as parent company, SVM has changed company structure and company name a few times, with the latest in 2009, when Metrima Energi was sold off and the company changed its name from Metrima to the present SVM Metering AB.
In 2006 Kamstrup acquired the Täby, Sweden-based competitor Senea AB (now Kamstrup Senea AB). With this acquisition SVM, with offices in Karlskrona and Stockholm, will also become part of the Kamstrup Group.
The acquisition is expected to be completed before November 1.