Last week, Induchem announced it had acquired Cork-based Manufacturing Assembly Aid Systems Limited (MAAS), a precision machine firm providing manufacturing engineering services across medical devices, pharma, food and robotics.
Swedish group Axel Johnson, which had sales worth over €13.6bn in 2024, acquired Induchem in 2019 through its pumps business, Axflow Group.
David Carroll, head of strategy at Induchem, said MAAS was an excellent strategic fit for the group.
“The company’s technical expertise, strong customer relationships, and value-add engineered solutions align perfectly with our growth strategy,” he said.
“By combining MAAS’s specialist capabilities with Induchem’s mature sales and market approach, we see significant opportunities to expand further within pharma, biotech, medical and other high-growth sectors.”
‘What we are ultimately looking for is companies we believe we can add value to,’ said Induchem strategy head David Carroll. Photo: Stock image/Getty
Carroll said Induchem was always looking for acquisition opportunities. It was especially interested in Irish companies that offer engineering products or services in life science, data centres, power generation, food and beverage, water and wastewater.
“It is a combination, but what we are ultimately looking for is companies within, let’s say, the life sciences and process space which we believe we can add value to, whether that be through investment or structure,” he said.
“We are not looking to change the companies. What we are looking to do is to provide the opportunity for them to grow into the best version of themselves.”
Carroll said Induchem has plans to be a 230-person business by 2027. The figure could be higher depending on acquisitions.
MAAS will continue to operate from its Cork facility, with its existing team
The Carrigaline company is currently expanding internationally, with facilities in the UK and boots on the ground in Denmark. It is also doing work across continental Europe and is looking at opportunities in Singapore.
Tadhg Hurley, managing director of MAAS, said the deal would provide it with the “resources and commercial support to strengthen our sales capability, diversify into new growth segments, and accelerate our long-term growth ambitions”.
MAAS will continue to operate from its Cork facility, with its existing team.
Axel Johnson International is a private, family-owned Swedish industrial group operating globally. The group own 350 businesses globally, according to its website.
The AxFlow Group is active in 31 markets and employs around 1,700 people. It has an annual turnover of €540m.
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