History

Our history

Allt började 1987

Duroc was founded in 1987 with the idea of laser hardening hardening horseshoes. When Duroc was introduced to the stock market in the mid-1990s laser-processing technology was the only business. During the years, operations have been developed, acquired but also sold or otherwise discontinued. With the acquisition of IFG, we have become a substantially larger and more international industrial group. Here is an overview of our historical development.

1987

Duroc was founded

Duroc was founded in 1987 as a collaboration between the Luleå Technical University and an entrepreneur. The original business concept was to launch commercially the revolutionary technology of using laser hardening to manufacture durable horseshoes.

1996

Listed on the stock market

1997

Acquisition of Duroc Rail

Duroc acquired SJ’s wheel maintenance workshop in Luleå - today Duroc Rail.

2007

Acquisition of the DMT Group

The foundation for the DMT group was laid through acquisitions. The following year, operations expanded in the rest of the Nordic and Baltic countries.

2012

Investments

Carried out an investment program of approximately SEK 50m for Luleå operations Duroc Rail and Duroc Special Steel.

2017

IFG & Cresco are acquired

At the beginning of 2017, the Fiber manufacturer International Fibers Group was acquired. With the acquisition, annual sales increased from approximately SEK 400m to approximately SEK 2,200m. During the second half of the year, a company in the field of climate control and energy efficiency was acquired, which subsequently changed its name to IFG Cresco.

2018

Acquisition of UPN

In the summer of 2018, the diesel engine distributor Universal Power Nordic was acquired.

2019

Herber & Cotting Group are bought

Herber Engineering was acquired during the spring of 2019. Herber manufactures advanced hydraulic and electrical tube bending machinery for cold tube forming. During the summer, the Cotting Group, consisting of the French company Griffine Enduction and the Belgian company Plastibert & Cie, was acquired. Through the acquisition of these two units, which have been operating for more than 60 years, and with strong positions in their respective areas, the Duroc Group establishes itself in the international market for coated textiles.

2023

Strategiskt partnership with LKAB

Duroc entered into a strategic partnership with LKAB. The partnership entails that LKAB acquires 49 percent of Duroc Rail AB and will together with Rail develop and build a "state of the art" production facility in Luleå.

Om Duroc

Duroc is a long-term investment company that acquires industrial and trading companies. Duroc does not intend to actively divest our companies. Sound finances, low leverage, diversification, and conservative valuation of potential acquisitions are some of the cornerstones of the strategy. Duroc also opportunistically acquires shares in other companies, preferably resulting in 100 percent ownership of the target company. However, Duroc may also occasionally acquire smaller stakes in other companies, provided that it is assessed that they can influence the operations of such a target company, always with the aim of creating value growth for Duroc's shareholders.

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