Karnell Group AB (publ) (“Karnell”), a long-term and active owner of leading industrial technology companies, has acquired LundHalsey (Console Systems) Ltd (“LundHalsey”), a UK-based designer and manufacturer of premium consoles used to equip control rooms globally across several industries, including aviation, industrial process control, broadcast, security, and infrastructure. Founded in 1982 and based in Aylesbury, England, LundHalsey is a family-owned business with annual sales of approximately £10 million and good profitability. The acquisition is expected to have a positive effect on Karnell's earnings per share on an annual basis.
“LundHalsey is a strong addition to Karnell and aligns well with our strategy of acquiring family-owned, niche companies with specialized offerings and strong financial performance. Its expertise in control room consoles across a broad range of end-user applications complements our product-owning business area, and we see potential for further growth in industries and markets with strong underlying market trends. We are excited to welcome the talented team at LundHalsey into the Karnell Group,” says Petter Moldenius, CEO of Karnell.
LundHalsey design and manufacture premium technical consoles used internationally in control rooms by clients requiring advanced control room furniture to monitor their operations. The company supplies its products to mission-critical control room environments, with broad exposure to different sectors and a global customer base. It provides ISO-certified control room consoles that meet the increasing stringency demanded by ergonomics, aiming to minimize fatigue among operators and thereby improve management and operator efficiency.
LundHalsey’s founder Chris Lund commented: “We are thrilled to join the Karnell Group. As founder of the business, it was crucial to find a partner who values our heritage, skilled management team, deep expertise, and commitment to quality and innovation. We believe this new partnership will open up exciting opportunities for our staff and customers, all while staying true to the core values that have guided us for over forty years.”
Karnell has acquired 90.0% of the shares in LundHalsey, with an option to acquire the remaining shares from the sellers.
LundHalsey will join Karnell’s Product Companies business area.
For further information, please contact:
Petter Moldenius, CEO Karnell Group AB (publ), Phone: +46 8 545 891 00
Or visit our website: www.karnell.se
About Us
Karnell is a growth-oriented industrial technology group that acquires and develops small and medium-sized product companies and niche-producing companies through a systematic and proactive acquisition strategy. With an eternal ownership horizon and decentralized decision-making model, Karnell provides entrepreneurs and family-owned businesses with a long-term and responsible partner. The company's business concept is to identify and acquire companies with an attractive financial profile and develop these businesses by leveraging the group's tools and expertise. The group consists of 18 companies in Sweden, Finland, and the United Kingdom. Karnell is listed on Nasdaq Stockholm.
