Bergman & Beving: Spin-offs, Value Chain & New Management
Former Executive Officer at Bergman & Beving
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Former Executive Officer at Bergman & Beving
Interview Transcript
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I'm not sure exactly what businesses were there to begin with, what went into Momentum, and what went into Alligo. Can you take me through the whole genealogy, starting from your time at Momentum Group in early 2008-2009, and bring me up to date to today as to what has happened?
In 2001, the Group was split into three separate independent listed companies. Lagercrantz Group took the electronic product companies, Addtech got the technical trade companies, and the new Bergman & Beving focused on tools, workwear clothes, and PPE; more consumable goods for industrial customers in building and construction. That's when they started a franchise chain called Tools, which began in Norway and then expanded to Sweden. These were independent resellers who bought from Bergman & Beving. During that time, Ahlsell was also buying some of Bergman & Beving's customers. So in 2004, the group decided to move forward in the value chain and started buying tools resellers, integrating forward into the value chain. That's when they acquired Momentum Industrial, which is when I joined the business. We were more like a technical trade company, perhaps better suited for Addtech than Bergman & Beving, but we ended up in Bergman & Beving.
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And these 100 acquisitions were completed by 2008, when the financial crisis hit, causing the business to decline significantly. This was all under the leadership of Stefan Wegner?
Yes, that's correct. We recovered a bit, but not very well. The plan during that time, from 2006, was to create a single company and integrate it into something similar to Ahlsell.
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So, when Momentum Group was spun off from Bergman & Beving, it was mainly comprised of resellers, which are essentially retail-level businesses in the construction industry?
Yes, that's correct. Only resellers. The new Bergman & Beving returned to a structure similar to 2001, but with some acquisitions and new own brands launched during that time, such as ESSVE and Teng Tools.
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