VBG Group-backed Ringfeder Power Transmission completed the acquisition of MAT Malmedie Antriebstechnik for SEK290m.

VBG Group-backed Ringfeder Power Transmission, a company that specializes in drive and damping technology, completed the acquisition of MAT Malmedie Antriebstechnik, a German manufacturer specializing in mechanical couplings and drivetrain solutions, for SEK290m. "The acquisition of MAT Malmedie Antriebstechnik makes a strategically important milestone in our ambition to grow as an industrial group. It strengthens our global presence and customer offering in full alignment with our growth strategy, while also creating new business opportunities across other parts of our product portfolio," Anders Erkén, VBG Group President and CEO.