Nordic Match is pleased to announce that Troax Group has entered into an agreement to acquire 100% of the shares of Vichnet. The acquisition is expected to close at the end of 2025 subject to closing conditions.

Nordic Match served as the exclusive financial advisor to Troax Group in this transaction.

About Troax Group

Troax Group is the leading global supplier of indoor perimeter protection for manufacturing and warehousing environments. The Group develops high quality and innovative safety solutions to protect people, property and processes. It has a strong sales force and efficient supply chain. With local presence, the Group offers excellent customer service and quick deliveries. Troax Group is represented in 42 countries and employ roughly 1200 people. The Company´s head office is located in Hillerstorp, Sweden and its sales amounted to 279 MEUR (2024).

About Vichnet

Vichnet is the market leader in China for machine guarding and wire tray solutions. The company, headquartered in Ningbo, had an annual turnover of 26 MEUR and approximately 300 employees (2024). Since its establishment 2006, Vichnet has grown profitably and today offers a comprehensive range of safety solutions for the Chinese as well as export markets. Through its focus on innovation, quality and reliability, Vichnet has become a trusted partner for businesses across various industries.

Vichnet is the market leader in China for machine guarding solutions and is also in a leading position for wire tray solutions. With its ambitious growth plan, Vichnet will provide a platform for Troax Group to further grow in APAC and overseas. By strengthening its market position and broadening the portfolio especially within wire trays used for datacenters, the acquisition will enable additional sales, add new solutions, and provide cost synergies over time.

Martin Nyström, President and CEO of Troax, said:

I am very pleased to welcome Vichnet into the Troax Group. With a market leading position in China and strong focus to innovation, Vichnet is an important addition to the Group on our mission to creating safer workplaces worldwide. Vichnet is a platform acquisition in line with our strategy and by joining forces we will improve customer service, add flexibility and widen our solutions portfolio. I am looking forward to working with Jessie Wen and the Vichnet team.

Jessie Wen, Managing Director and co-founder of Vichnet, said:

We join Troax Group to combine our strengths: their global footprint, our Asian market position, and a shared drive for innovation. This is the catalyst for our future growth.

Markus Dahlström, Partner Nordic Match, said:

Nordic Match is pleased to support Troax in its highly strategic inaugurating acquisition in China, which demonstrates the vast market potential for European companies in China by pursuing M&A as a strategic tool, in order to capture strategic growth opportunities effectively. I wish Troax and Vichnet all future success in becoming the global leader in protective industrial solutions.

Troax Group´s aim is to become the market leader worldwide in selected segments. Troax have a market leading position in Europe and America, and has been growing profitably in Asia for years. With the acquisition of Vichnet, Troax Group makes a step change in Asia and becomes the leading player in China and Asia. Together with Vichnet, the Group has secured a platform with the size, skills and capabilities of a market leader for Asia. Roughly 50% of the world´s industrial production is tied to China and Japan, and an increasing share of industrial robotics integration is led by integrators out of this region.

With the acquisition of Vichnet, Troax Group strengthens its offering with machine guarding solutions tailored for the Asian markets. In addition, the offering broadens with wire trays specifically designed to improve productivity and safety in various industries.

Deal team

Markus Dahlström, Partner

Tony Wang, Partner

Adam Xu, Director

Winnie Zhuang, Associate

Simon Forsgren, Analyst


About Nordic Match
Nordic Match is a boutique M&A and Strategy Advisor headquartered in Shanghai, China. Dedicated to Euro-Asia transactions, we have a clear vision – to support aspiring corporates and investors in search for value-creating opportunities between Europe and Asia.

More about Nordic Match: www.nordic-match.com