Short History of the Grimaldi Industry Group

1970 "Grimaldis Mekaniska Verkstad AB" is founded in Köping by Salvatore Grimaldi. The company is a subcontractor of precision-grinded components for the automotive industry.

1981–1988 During this period, several companies are acquired within the engineering industry, such as: Karlsson Spools, pistons for the hydraulic valves industry, Kohlswa Gety, conveyor belt chains, and A G Johanssons Metallfabrik, valves, couplings, cranes etc in stainless and acid-proof material.

1988 Salvatore Grimaldi restructures the Grimaldi Group and Grimaldi Industri AB becomes the ultimate parent company.
Grimaldi Industri AB acquires Toolex Alpha AB, a company in dire financial straits, from Berema (Atlas Copco). After restructuring, Toolex becomes one of the world’s leading suppliers of machines for the manufacturing of Compact Discs.

1991 The Grimaldi Industri Group, now consisting of some 10 companies, establishes a niche strategy for growth and increased profitability.

1993 Grimaldi Industri AB founds Metpump AB in order to develop a pump for molten metal.

1994 Grimaldi Industri AB sells 70% of the shares in Toolex Alpha to variuos investors, including the company’s personnel, NatWest Ventures Investments Ltd, Citicorp Capital Investors Europe Ltd and CVC Capital Partners Europe Ltd.

1995 Grimaldi Industri AB acquires a majority share in "VenCap Industrier AB", an investment company, listed on the Stockholm Stock Exchange. VenCap Industrier buys a majority share in the listed company Monark Stiga AB, which manufactures bicycles, lawnmowers and exercise bicycles. VenCap´s other holdings are sold.

1996 Toolex Alpha is listed on the Amsterdam Stock Exchange, and on Nasdaq in New York. On share registration, the market values Toolex Alpha at MSEK 4,000. Grimaldi Industri AB reduces ownership of Toolex Alpha to 10% of the shares.

1997 Monark Stiga acquires the French bicycle group Cycleurope, which includes well-known brands such as Peugeot and Gitane. Through official tender Grimaldi Industri AB acquires the remaining shares in VenCap Industrier AB. The company is de-listed from the Stockholm Stock Exchange. Monark Stiga buys the Italian bicycle company Bianchi and the Danish bicycle brand Everton Smith. Kohlswa Gety is sold.

1998 A G Johansons Metallfabrik AB is sold to ITT Flygt.

1999 In December the Grimaldi Industri Group´s tender offer to buy shares in Monark Stiga is accepted and the company is listed, and the company is de-listed from the Stockholm Stock Exchange. The bicycle and exercise bike activities (Cycleurope AB and Monark Exercise AB) become wholly-owned subsidiaries of Grimaldi Industri AB. 51% of Stiga AB (lawnmower business) is sold to UBS Capital.

2000 Stiga merges with the Italian Castelgarden SpA, leading manufacturer of lawnmowers in Europe and the Italian Alpina Professional & Garden SpA, manufacturer of power saws and brush cutters. A majority stake in Contento is acquired.

2001 Part of 3nine (oil mist eliminator for metal working industries) is acquired.

2002 Stiga and Castelgarden change their name to Global Garden Products (GGP). Remaining shares of Contento are acquired.

2003 The remaining shares in Global Garden Products are sold.

2005 Plockmatic International is aquired. Karlsson Spools established subsidiary in Kunshan, China.

2010 Opening of the new concept store Bianchi Café & Cycles in Stockholm.