More than a century of value-generating technical solutions

2021: Addtech turned 20 years old

In September 2021, Addtech celebrated 20 years as a publicly listed company. Since the outset in 2001, we have exceeded our financial goals – despite IT-crises, financial crises, recessions, oil crisis, a cyber-attack and a pandemic. We have grown from a  newly-formed spin-off from Bergman & Beving into a Large Cap company holding a strong position.

2020: A proof of strength in a challenging world

In March 2020, the World Health Organisation (WHO) announced that the spread of the corona virus had been classified as a pandemic. Some of Addtech’s segments were hit hard, while the business situation remained far more positive in other areas of the operations. During the pandemic, the business model and corporate culture demonstrate once more their stamina and capacity in rapidly adapting the operations to external changes.

2019: Cyber attack puts Addtech to the test in the extreme

The new Automation business area is established in 2019, meaning that Addtech now has five business areas. In October, Addtech is hit by a cyber-attack affecting 80 of the 130 companies. The attackers encrypt the central IT environment and then demand a ransom to reinstate it. For Addtech, not paying is the obvious course of action, and the company opts instead  to explain openly what has occurred.

2018: High acquisition rate and new CEO

The level of activity is high, with more than 20 acquisitions being implemented during the year. Addtech’s well-established acquisition philosophy remains unchanged and successful. In 2018, Niklas Stenberg is appointed as the new President and CEO of Addtech.

2015: International technological solutions group under many brands

The Life Science business area was named AddLife AB and this business was listed separately on Nasdaq Stockholm in March 2016.

2008: New business-oriented organisation

In 2008, a new business-oriented organisation was introduced with the subsidiaries being grouped into business units linked to overarching markets or areas of technology. The purpose of the change was to develop each business unit’s market position in key segments and to generate conditions for continued profitable growth – both through organic growth, as well as through acquisitions. In 2008, the Group gains a new CEO when Johan Sjö takes the helm from Roger Bergqvist in January.

2005: New business area and increased exports

In early 2005, Meditech is acquired, changing its name to Addtech Life Science  and  forming  an independent business area. The Group now has subsidiaries in the Nordic countries, the UK, Germany, Poland and Austria. Since Addtech’s listing in 2001, some 40 company acquisitions have been completed. The telecom crisis hit Addtech hard, but also served as a valuable lesson.

2001: Addtech is born

In the early 2000s, Bergman & Beving divided its operations into three independent subsidiaries, each of which was listed on the Stockholm Stock Exchange. Addtech was built on Bergman & Beving’s Industry business area, which had sales of slightly less than SEK 2.5 billion and approximately 1,100 employees.

1996: Four new business areas emerge

In 1996, Bergman & Beving turned 20 as a listed company. Sweden remained the largest market, followed by the other Nordic countries. Now, however, operations are also maintained in Poland, the Baltic countries and Germany. In 1997, the EU resolved to adopt the Euro and, for this reason, the Group was rebuilt to strengthen its competitiveness and growth potential. The subgroups are redefined as four business areas: Electronic Components, Industry, Tools and Equipment and Meditech.

1976: Listing and Nordic expansion

Bergman & Beving was listed on the stock exchange in November 1976. A listing which, according to the annual report for that year, was welcomed by customers, suppliers and personnel. In the 1970s, with its first corporate acquisitions in Norway, Finland and Denmark, it took the step out into the Nordic region, deliberately broadening its geographical base, both in terms of customers and proprietary companies.

1960: Acquisitions become an early part of the operations

Addtech’s range has been broadened in pace with technological development. In the mid-1960s, an era of corporate acquisitions commenced with the objective of complementing existing operations with companies in adjacent market segments. Acquisitions have since been part of the day-to-day operations, bringing new business opportunities and skilled employees.

1920: New strategy

In the 1920s, the company slowly began to shift strategy. Bergman & Beving moved on from standard products to instead invest in more advanced products with better margins. Quartz lamps and later also microscopes, spectrographs, carbon brushes and vacuum pumps will be important contributions to improved profitability.

1906: More than a century of value-generating technical solutions

Fundamentally, Addtech has had the same business concept for more than 100 years. In 1906, engineers Arvid Bergman and Fritz Beving founded Bergman & Beving, with the business concept of importing technical products from Germany and selling them on to the rapidly expanding Swedish industries. The first products included automatic scales, water meters, electricity meters, cables and electrical writing instruments.