Acquisitions
Nordic Drives Group acquires Tängmans Process Automation AB
On the 26th of November 2025, MVI Fund II AB portfolio company Nordic Drives Group Holding AB closed the add-on acquisition Tängmans Process Automation AB (“TPA” or “Company”)
Tängmans Process Automation AB is an automation company specializing in advanced automation solutions, primarily within industry and infrastructure. TPA operates in the electrical sector with a focus on industrial and infrastructure projects and the area of operations is mainly within the Nordic region.
Founded in 2004, the Company is headquartered in Umeå, Sweden, but employees are based in several other locations across Sweden.
TPA becomes the sixth aftermarket company to join Nordic Drives Group in Sweden, further strengthening Nordic Drives Group’s geographical footprint and service capabilities.
– We are very pleased to welcome Henric and the team in our group. Tängmans Process Automation will even further strengthen the level of automation knowledge in Nordic Drives Group. Tängmans had already before the acquisition collaborated with some of the group companies, so the synergies are already there, says Tom Gustavsson, CEO of Nordic Drives Group.
Henric Lundblad adds:
–Selling our company is nothing we take lightly, but we felt good about the discussions we had with Nordic Drives Group during the process and see very clearly that we complement the companies in the group well. We have very exciting times ahead of us.
Nordic Drives Group is MVI’s industrial roll-up within OEM and the aftermarket for industrial electric motors and frequency converters, and the acquisition contributes to the goal of being one of the leading players in motors and drive systems in Northern Europe.
