Workshop equipment supplier Nexion has acquired a 75% shareholding in Danish company Stenhoj Group, following an agreement between the two family-owned businesses. The Dyoe family retains a 25% share in Stenhoj.
Nexion, headquartered in Italy, develops and manufactures tyre changer equipment, wheel balancers and wheel alignment kit. Stenhoj also develops and manufactures workshop equipment – including vehicle lifts, brake testers, headlight testers and emission testers – with brands such as Gemco, Sherpa, Tecalemit and its own Stenhoj brand.
The deal, say the companies, establishes “the leading European supplier of products and services for the automotive aftermarket” with the combined business revenue of more than EUR 340 million and 2,000 employees.
Soren Dyoe Madsen, who continues as chief executive of Stenhoj, says: “Building strong partnerships is crucial if you want to be a winner on tomorrow’s market.”
