Denmark: The UK’s John King Chains has purchased a stake in ScanChain. The purchase is in support of a takeover of the business by the sales director Kåre Söderberg, who was one of the original founders of the chain and socket company in 2009. No value for the transaction has been disclosed.
“We see this union as a logical part of our expansion strategy with reciprocal benefits. Through ScanChain we have not only gained access to the Scandinavian market, but have enhanced our commercial and technical expertise within the Group. We have always identified Kåre as one of the key operators in the chain market and an individual who is customer driven, technically competent and ambitious in his plans for the future,” said John King Chains in a statement.
David Wadsworth, the managing director of John King Chains, added that ‘…the alliance between John King and ScanChain comes at a time when there has never been such a high degree of optimism for the future of a long-established British manufacturing business and all those associated with it.’