Agreement reached with Swedish machine adapter specialist for undisclosed sum
VOLVO CE are to acquire CeDe Group, a niche manufacturer that specializes in adapting standard construction machinery for special applications.
The Malmo-based company works for several leading OEMs, including Volvo CE and their dealers, providing adaptations such as long-reach booms for demolition excavators, water or fuel bowsers for haulers and conversions for underground mining applications.
The deal is for an undisclosed sum and includes CeDe Group’s intellectual property, operation, other assets and 45 full-time employees. Volvo CE will make available their considerable competences to the company and add additional resources to allow it to expand its market reach and customer bases, becoming a European leader in this specialized field.
CeDe will remain a standalone business and continue to provide and expand their engineering services to non-Volvo CE customers.
‘This acquisition makes sense on a number of strategic levels,’ commented Volvo CE president Melker Jernberg. ‘CeDe has already proven that it has a depth of engineering talent in adapting our machines for specialized applications.
‘This closer relationship will allow Volvo CE to grow our product offerings while at the same time boosting CeDe’s ability to expand into new markets and segments, both with Volvo CE and other OEM customers.’