2012–2017
2012–2017 – Return to Core Principles
The period from 2012 to 2017 marked a decisive return to the principles that had historically generated the strongest returns. In 2012, Anders Börjesson, the architect behind the original P/WC model and the 2001 separation, was appointed Chairman of the Board. Under new CEO Ulf Lilius, who had led the group’s most profitable unit through the crisis, the centralisation experiment was systematically unwound. The culmination came in 2017 when Momentum Group was spun off as a separately listed company and the parent company reclaimed the name Bergman & Beving after ten years under the name B&B TOOLS.
Historical Context
The early 2010s required rebuilding. The balance sheet was strained, costs were elevated, and the centralised infrastructure had created rigidity. Annual costs were reduced by approximately SEK 140 million, properties were divested, and capital was freed up. The reintroduced Focus Model, which differentiated businesses based on their P/WC performance, began to restore clarity. By 2016, the operating margin reached its highest level since 2007/08, and P/WC rose to 27 percent.
Structural Decision
Decision-making authority was returned to the individual business units. P/WC was once again reinstated as the primary performance metric, and non-core businesses were divested. The separation of Momentum Group completed the structural correction, with Bergman & Beving retaining the product companies while Momentum assumed the reseller operations.
Consequence
Governance clarity improved markedly. The correction demonstrated institutional self-awareness, the willingness to acknowledge mistakes and reverse course, even when it meant rolling back years of strategic investment. It also created the platform for the next phase of value creation: a focused, acquisition-driven group built on principles that had proven their worth over decades.
What Endured
The 2012–2017 period confirmed that long-term value creation requires the willingness to correct structural drift. The principles formalised in earlier decades proved not only durable but self-correcting. When the company deviated, so did the results.