In 2008, a new business-oriented organisational structure was introduced in which the subsidiaries were grouped into business units linked to overarching areas of technology or the market. The purpose of this change was to develop our market position within key segments and create the conditions for continued profitable growth in each business unit; both through organic growth and acquisitions. Johan Sjö took over from Roger Bergqvist as the new CEO at the start of 2008.
Early 2005 saw the acquisition of Meditech, which went on to form the Life Science business area. The Group then had subsidiaries in the Nordic region, the UK, Germany, Poland and Austria. Since becoming a listed company in 2001, Addtech had acquired around 40 companies. The telecom crisis hit Addtech hard, but it was also a useful lesson. An entire business segment disappeared when the whole telecom industry relocated to low-cost countries.
At the start of the 2000s, Bergman & Beving divided its operations into three independent subsidiaries, each of which was listed on the Stockholm stock exchange. The business area Bergman & Beving Industry formed the basis for Addtech, which then had sales of just under SEK 2.5 billion and around 1,100 employees.
In 1996, Bergman & Beving celebrated 20 years as a listed company. Sweden was still its largest market, followed by other Nordic countries. But it now also had operations in Poland, the Baltics and Germany. In 1997, the EU took the decision to introduce the euro, and the Group was consequently restructured to strengthen its competitiveness and growth opportunities. The subgroups were formed into four business areas: Electronic Components, Industry, Tools and Equipment and Meditech.
Bergman & Beving was publicly quoted in 1976 on the stock list of the Swedish Securities Dealers Association. Judging by the annual report for that year, the public listing was well received by customers, suppliers and staff. In the 1970s, with its first acquisitions in Norway, Finland and Denmark, the company took its first steps out into the Nordic region and consciously broadened its geographic base, in terms of both customers and its own companies.
Addtech’s range has expanded as technology has developed. The mid-1960s marked the start of an era of corporate acquisitions with the aim of expanding the existing business with companies in related market segments. Since then, acquisitions have been part of the Group’s operating activities, adding new business opportunities and skilled employees.
Addtech has fundamentally maintained the same business concept for more than 100 years. Its founders, Arvid Bergman and Fritz Beving, started Bergman & Beving in 1906 with the business concept of importing technical products from Germany to sell to the rapidly expanding Swedish industry. Some of the company’s first products were automatic weighing scales, water meters, electricity meters, cable and electrical recording instruments (such as ECG instruments).