To Blastrac Global’s Valued Customers, Distributors and Suppliers:
Today it has been announced that our owner, Bard Capital Holdings, has signed an agreement to sell its interests in Blastrac to Husqvarna Group. This has resulted from discussions lasting for over one year, and much work on behalf of Husqvarna’s Construction Division to get to know our company. As a leading global company in surface preparation, Blastrac is a significant merger opportunity to add to Husqvarna Construction’s surface preparation technology and product offerings.
Husqvarna is a Swedish public company with revenues close to US$5B. Its Construction Division has revenues around US$700million. Including the acquisitions in recent years of HTC and Pullman Ermator, Blastrac represents a substantial commitment by Husqvarna to the surface preparation business.
Shot blasting, scrapers, and scarifying are new technologies to Husqvarna. Blastrac and Diamatic brands will complement and enhance the Husqvarna diamond grinding and polishing product lines.
Husqvarna are buying Blastrac for our products, technology, customer relationships, manufacturing capability and employee base. Over time there will be changes resulting from the combination, including new opportunities for employees of both companies.
The transaction is expected to close before the end of 2020. In the meantime, it is “business as usual”. The Cyclone and U.S.-based Global Contracting Services (Skidabrader, Cyclone Services and Diamatic Management Services) activities are not part of the sale and will remain under the ownership of Bard Capital.
“Blastrac and Husqvarna have been robust but respected competitors for many years. We are excited to marry our business to a strong and long-term industry player,” said CEO Brian MacKenzie of Blastrac. “In these uncertain times, size and financial strength will be important to our employees and customers alike.”
“I am delighted to start working with Blastrac management and employees to build and expand our offering in the market for surface preparation. And I look forward to welcoming the Blastrac employees and customers to our company,” said Karin Falk, President of the Husqvarna Construction Division.
We will continue to keep you updated with details as they unfold. We look forward to continuing our partnership with you.
President, Blastrac Global