The acquisition of Sunnex Equipment Group in 2001 marked the first acquisition of a manufacturing company with own products. Thereafter, several new companies have been added to our group, among other Pronomic (2002), Movomech (2004), RonI (2005), Finnlift (2010), Advanced Handling (2012), 3i (2015), Dynamic Filtration (2018), Liftsafe Group (2020), and PHS West (2021).
Today the Amplex group consists of some 30 operating companies with a focus on materials handling, workplace safety, and lighting.
Recent years in brief
2019/20 (October – September)
The start of the financial year was positive for most of the businesses. The US-based companies in the Material Handling division experienced good demand and increased volumes. The market for Retail Solutions was also favourable with considerable interest in new digital signage solutions. In late winter (the financial year’s second quarter) the Covid-19 pandemic hit with full force and made a strong impact on the rest of the year. The effect of Covid was initially clearly negative but a more complex picture soon emerged to the extent that many companies and units could quickly recover lost volumes while the effect on others was more sustained.
Overall volumes kept up relatively well and in those companies where volumes fell speedy actions were taken to adjust costs. A combination of long-term measures and short-term cost reductions, in the form of government subventioned furloughs as well as reduced travel costs, provided good support for the companies most impacted by Covid.
2020/21 (October – September)
A year of tough restrictions to halt the Covid pandemic which included workplace lockdowns, working from home and travel bans. Despite this, the industrial economy was doing well and many of the Amplex companies experienced increased order intake. Challenges in the form of an increasingly significant global component shortage and subsequent extended lead times were handled well by the companies.
Our companies in Materials Handling were generally strong with Pronomic in Sweden in particular winning a number of large orders. The product companies in the USA also showed good development, while the operations were slower within Industrial Safety in Canada and the USA. The companies within Lighting (lighting and vibration damping products) worked successfully to strengthen their margins.
The American company PHS West was acquired in May. The company develops and manufactures tugs and lifting equipment specially adapted for healthcare, warehouses and data centres and is located in Rockford, Minnesota. During the year, the car operations in Bilpartner Skåne with subsidiaries were also sold. This closed down the Automotive business area.
Cleaning up the group structures
In order to create greater clarity, changes were made at the end of the year to the group structures for Amplex and our two sister groups KAMIC Group and Mindelon. With effect from the financial year 2021/22, Amplex brings together all companies in the sphere active in lifting technology, materials handling and industrial safety. KAMIC Group will be home to all electrical and electronics companies in the sphere, while Mindelon holds the companies operating within retail technology.