MIT takeover

Axel Johnson International has purchased Marindus Group Limited Axel Johnson International has purchased Marindus Group Limited

UK marine driveline specialist and Seawork International 2019 exhibitor MIT (Marine and Industrial Transmissions) has been acquired by Axel Johnson International.

MIT is part of Marindus Group Limited (MGL). The UK-based company comprises MIT and AtZ Marine Technologies Limited (ATZ). The transaction was completed on 3 December 2018.

“The acquisition expands our geographical reach in Europe, while simultaneously growing our commitment to a number of leading driveline and marine application brands,” says Jan Brattberg, Head of Driveline Solutions platform. “MGL’s operating companies are fully focused on providing technical solutions to their customers, which is a perfect fit with the strategic focus of Axel Johnson International.”

Headquartered in Kent, MGL has an annual turnover of approximately GBP 9 million and employs more than 50 members of staff. The company was initially founded in 1974 as the first Twin Disc distributor in the UK. This distribution partnership remains key for MIT and currently accounts for a significant amount of MGL’s sales revenue.

MIT are experts in the design, supply and installation of custom-made solutions for marine and industrial driveline systems, along with being exclusive UK and Ireland distributors for Twin Disc, Transfluid, Rubber Design and Quincy. Furthermore, its customer focus extends to providing expert service and support for a number of other leading driveline brands.

AtZ provides expert marine engineering capabilities, along with a full consultative service to multiple aspects of above and below the waterline components. By Jake Frith

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