Acquisitions

Addtech is constantly on the lookout for companies to acquire and is engaged in discussions with a number of possible companies. This financial year Addtech completed eleven acquisitions in the continuing operations that came into effect during the year. Ten companies were acquired in the previous year. The year's acquisitions were carried out in all business areas and are diverse both in terms of the markets and products covered. Since becoming a listed company in 2001, Addtech has acquired around 90 companies. The following companies were acquired during the year: 

  • Dovitech A/S. On  3 April, 2017, Dovitech A / S, Denmark, was acquired in the Components business area. Dovitech delivers inductive special solutions and electromechanical and automation components. The company has a turnover of approximately DKK 80 million and has five employees. 
  • Craig & Derricott Holdings Ltd. On 6 April, 2017, Craig & Derricott Holdings Ltd, UK, was acquired to the Power Solutions business area. Craig & Derricott develops, manufactures and markets robust low voltage devices and subsystems for UK, Europe and Middle East markets. The company employs approximately 10 MGBP and has 90 employees.
  • Altitech A/S. On 2 June 2017 Altitech A / S, Denmark, was acquired in the Components business area. Altitech is a technology trading company that provides custom-made machine rack and protection as well as automation solutions to Danish industrial companies. The company has a turnover of approximately DKK 10 million and has five employees. The business is now part of an existing company.
  • Mobile Control Systems companies. On 9 October, 2017, the Mobile Control Systems companies, Belgium, were acquired to the Power Solutions business area. Mobile Control Systems develops and supplies electronic gas and transmission controls and motors for controlling engine speeds, mainly against OEM customers in the construction machinery and buses segment. The companies have a turnover of approximately EUR 5 million and have 17 employees.
  • Ingenjörsfirma Pulsteknik AB. On 1 November, 2017, Ingenjörsfirma Pulsteknik AB, Sweden, was acquired in the Components business area. Pulsteknik delivers components and solutions in the areas of sensor, control and drives. The business is primarily aimed at the Nordic OEM and automation industry. The company has a turnover of approximately MSEK 50 and has ten employees.
  • Sensor ECS A/S. On 7 November, 2017, Sensor ECS A / S, Denmark, was acquired in the Components business area. Sensor ECS supplies built-in industrial and hospital computers. The business is primarily aimed at the Nordic OEM industry and healthcare. The company has a turnover of approximately 120 MDKK and has nine employees.
  • Fintronic Oy. On 1 December, 2017, the operation of Fintronic Oy, Finland, was acquired in the Components business area to be part of an existing company. The operation in Fintronic has a turnover of approximately MSEK 7 and has an employee.
  • STIGAB Stig Ödlund AB. On 1 December, 2017, STIGAB Stig Ödlund AB, Sweden, including subsidiaries in Finland, was acquired in the Components business area. STIGAB supplies components and solutions in joysticks, sensors, switches and other electromechanical components. The business is primarily aimed at the Nordic OEM industry. The company has a turnover of approximately MSEK 115 and has twelve employees.
  • Finn-Jiit Oy. On 2 January, 2018 Finn-Jiit Oy, Finland, was acquired in the Components business area. Finn-Jiit delivers customised subsystem solutions in the areas of machine components and flow technology. The business is primarily aimed at the Nordic OEM industry. The company has a turnover of approximately EUR 4 million and has ten employees.
  • 2 Wave Systems AB. On 2 January, 2018, 2 Wave Systems AB, Sweden, was acquired to the Components business area to become part of an existing company. 2 Wave Systems offers fiber and copper testing tools, and is primarily a manufacturer, telecom company and network owner as a customer. The company has a turnover of approximately MSEK 16 and has two employees.
  • IPAS AS. On 3 January, 2018, IPAS AS, Norway, was acquired to the Energy business area. IPAS is a well-established provider of products and solutions in professional lighting in Norway. The company is established as a supplier of industrial fixtures, outdoor lighting and indoor lighting. The products are sold to installers, electrical wholesalers, industry and municipalities. The company has a turnover of approximately 40 MNOK and has ten employees.
  • Duelco A/S. On 19 June 2018, an agreement to acquire Duelco A/S, Denmark, to become part of the Energy business area, was signed. Duelco has strong positions within the product segments cable attachment, cable entry systems, office solutions, ward panels, machine safety and equipment cabinets for signaling systems. The company has sales of around DKK 110 million, and 30 employees. The closing is estimated to take effect in July 2018.

The total initial purchase consideration, for the year's acquisitions amounted to SEK 498 million, including cash and cash equivalents in the acquired companies of SEK 50 million. If all the acquisitions had been completed on 1 April 2017, their impact would have been an estimated SEK 700 million on Group net sales, about SEK 62 million on operating profit and about SEK 47 million on profit after tax for the financial year. During the financial year, the acquisitions increased the number of employees with 171. 

Divestments 

  • Batteriunion i Järfälla AB. On 12 June, 2017, Batteriunion was sold in Järfälla AB, which was part of the Power Solutions business area. The company has annual sales of approximately MSEK 140 and has 16 employees.
Latest updated: 7/6/2018 3:57:36 PM by emelie.frankendal@oxp.se