Normet has agreed to acquire Rambooms Oy, a manufacturer and supplier of rock breaker boom systems, and Marakon Oy, a supplier of hydraulic hammers and excavator attachments for the construction, crusher and mining industries.
The Rambooms and Marakon businesses, with a manufacturing facility in Lahti, Finland, form the Marakon Group. The Group has a wide customer base, and its products are found in most mining and construction markets. Marakon Group has 35 employees and net sales of EUR 26 million in 2022.
“Rambooms and Marakon are known for their high performing quality products,” said Ed Santamaria, President and CEO at Normet. “With the acquisition Normet strengthens its position in scaling and breaking as well as supports advancing towards higher levels of automation and electrification for the mining and construction industries.”
The acquisition is expected to be closed in the first quarter of 2023, subject to the fulfilment of customary closing conditions. The parties have agreed not to disclose any financial details related to the transaction.
