Motum AB acquires the remaining 40% of Motum AS to make it a wholly owned subsidiary

Motum AB has acquired the remaining 40 percent of shares in the Norwegian elevator company Motum AS. The company thus becomes a wholly owned subsidiary within the Motum Group.

Founded in 2017, Motum AS has been jointly owned since its inception. Motum AB currently owns 60 percent of the company. Through this new acquisition, Motum strengthens its presence in Norway as part of the Group’s Nordic growth strategy.

Kyrre Sagen, who co-founded the company and currently serves as CEO of Motum AS, will continue in his role going forward. No organisational changes are planned in connection with the transaction.

“This step is a natural continuation of the strong collaboration and results we have seen in Norway. With a wholly owned Motum AS, we are even better positioned to continue growing together. We are also very pleased that Kyrre will continue to lead the business,” says Fredrik Eliasson, Group CEO of Motum AB.

“I am very proud of what we have built together at Motum AS. Thanks to the strong commitment of the whole team in Norway, we have succeeded in creating something truly solid. Having three companies in Norway within the Group shows the journey we are on—and it’s exciting to continue that journey together with colleagues both in Norway and across borders. I’m really looking forward to working with our employees to develop the company into its next chapter,” says Kyrre Sagen, CEO of Motum AS.

Motum AS has established itself as a strong player in the Norwegian elevator market with a focus on service, modernisation, and new installations. The company is an important part of Motum’s ambition to build the Nordic region’s leading independent elevator and door group.

For further information, please contact:
Vendela Dellner, Chief Marketing & Communications Officer, Motum AB
vendela.dellner@motum.se