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Draft:Allgon AB

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Allgon AB is a Swedish company that develops, manufactures and sells equipment for industrial radio remote control. The company was founded in 1947 in Stockholm under the name Antenna Specialists (Antennspecialisten) and was long active in radio antenna manufacturing. During the 2010s, the business was redirected towards industrial radio remote control. Since March 2021, Allgon has been a wholly owned subsidiary of the investment company Bure Equity and is no longer listed on a stock exchange.

History

Antenna manufacturing (1947–2002)

The company was founded in 1947 in Stockholm by Torbjörn and Veronica Cramner under the name Antenna Specialists. The business initially consisted of manufacturing radio antennas for vehicles and household use. During the 1950s and 1960s, the company produced antennas for television and radio reception as well as for Citizens Band (CB) radio. The company was renamed Allgon Antenna Specialists and relocated to Åkersberga. In 1968, the car antenna division was separated from the parent company; the remaining business focused on other antenna systems, including supply of antenna systems to Swedish police vehicles.

During the 1970s, the company manufactured antennas for military use and shortwave frequencies. During the 1980s and 1990s, the company expanded alongside growth in mobile telephony, supplying antennas for mobile network base stations. By the late 1990s, Allgon produced more than 100 million terminal antennas per year. In 2002, the business was divided into separate parts and sold.[1]

Smarteq and transition to remote control (2015–)

The antenna company Smarteq, founded in 1996, acquired Åkerströms Intressenter AB in 2015 and announced that, in connection with the acquisition, it would adopt the Allgon name for the new group. Åkerströms manufactured products for the radio remote control of industrial cranes, mobile applications, gates and locomotives, and at the time of the acquisition had revenues of approximately SEK 80 million and around 60 employees.[2]

In 2016, Smarteq AB formally changed its name to Allgon AB. In 2018, Tele Radio International Holding AB was acquired for SEK 350 million.[3] The Tele Radio acquisition more than doubled the group's turnover; revenues for 2019 were projected at close to SEK 510 million with a margin approaching 14 percent.[4]

In 2021, the subsidiary Smarteq Wireless AB was divested. The same year, Bure Equity AB acquired Allgon following a bidding process in which Latour Industries AB had also submitted an offer; Bure's offer amounted to SEK 13.50 per share. Allgon was delisted from Nasdaq First North Growth Market on 2 March 2021.[5] In 2024, Italian company Sistematica S.r.l., based in Turin, was acquired.[6]

Operations

Allgon manufactures and sells wireless remote control systems for industrial applications, including the operation of cranes, machinery and vehicles. Customers are in the manufacturing, construction and transport sectors. The company is headquartered in Västra Frölunda, Sweden, and operates in several countries through subsidiaries. Allgon employs more than 400 people across more than 18 countries.

Subsidiaries

  • Tele Radio — a supplier of wireless remote controls for industrial use, acquired in 2018.[7]
  • Åkerströms Björbo AB — a manufacturer of radio remote controls for industry, based in Björbo, Sweden, acquired in 2015.[8]
  • Sistematica S.r.l. — a company based in Turin, Italy, acquired in 2024.[9]

Ownership

Allgon AB is a wholly owned subsidiary of Bure Equity AB (publ), an investment company listed on Nasdaq Stockholm since 1993. Bure Equity completed the acquisition of Allgon in March 2021, having submitted a cash offer of SEK 13.50 per share, which exceeded an offer that Latour Industries AB had announced in December 2020.[10]

References

  1. ^ "Allgons industriella akrobatik". Affärsvärlden (in Swedish). 2021.
  2. ^ "Smarteq plus Åkerströms blir Allgon". Elektronik i Norden (in Swedish). 2015-11-30.
  3. ^ "Allgon köper Tele Radio". Realtid (in Swedish). 2018.
  4. ^ "Börsveckans senaste aktieråd". Börsveckan, via Placera (in Swedish). 2018-10-08.
  5. ^ "Allgon ska utvärdera Bures bud". Affärsvärlden (in Swedish). 2020-12-23.
  6. ^ "Sistematica ingår nu i Allgon Group". Elektronik i Norden (in Swedish). 2024.
  7. ^ "Allgon köper Tele Radio". Realtid (in Swedish). 2018.
  8. ^ "Smarteq plus Åkerströms blir Allgon". Elektronik i Norden (in Swedish). 2015-11-30.
  9. ^ "Sistematica ingår nu i Allgon Group". Elektronik i Norden (in Swedish). 2024.
  10. ^ "Allgon ska utvärdera Bures bud". Affärsvärlden (in Swedish). 2020-12-23.

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