The deal includes all CeDe Group’s intellectual property, operations, other assets and staff of circa 45 full-time employees. Purchase price was not disclosed.
CeDe Group has a reputation in Scandinavia as a low-volume adaptor of construction and mining machinery for special applications. Working for several leading OEMs, including Volvo CE and its dealers, adaptations include developing new bodies for haulers, rail conversions for wheeled excavators, as well as conversions for underground mining and other special applications.
The company was formed in 2000 and can trace its roots back to Volvo’s original excavator business, Åkerman.
Volvo said that CeDe would remain a standalone business and would continue to provide and expand its engineering services to non-Volvo customers.
“This acquisition makes sense on a number of strategic levels,” said Volvo CE president Melker Jernberg. “CeDe has already proven that it has a depth of engineering talent in adapting our machines for specialized applications. This closer relationship will allow Volvo CE to grow our product offerings while at the same time boosting CeDe’s ability to expand into new markets and segments, both with Volvo CE and its other OEM customers.”
CeDe Group chief executive Krister Johnsson said: “With our already long and good relationship with Volvo CE and deep understanding of its products, we are excited at the opportunities to develop our services and expand our reach into new markets.”