Addtech acquires Switchgear
Addtech Group’s Energy & Equipment business area agrees to acquire all shares outstanding in Switchgear AB.
Switchgear sells custom-designed low-voltage switchboards mainly to Swedish basic industry. The company represents world-leading suppliers and has a strong position in its customer and product segments. Switchgear has fifteen employees and revenue of approximately SEK 50 million. Jim Sjöström, who is one of the sellers, will remain in the capacity of managing director of the company.
The company constitutes an excellent compliment to some of Addtech’s other businesses within the business unit Energy Supply. This business unit focuses on sales of components and sub-systems in the field of electricity distribution.
The closing takes place today and the acquisition is expected to have a marginally positive effect on Addtech’s earnings per share during the current financial year.
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