Addtech acquires Maxeta AS
Addtech Energy & Equipment, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in Maxeta AS
Maxeta is a technology trading company active in two main areas, products for electrical power distribution and material for electrical installations. The company represents global leading suppliers within its product areas and commands a solid position in the Norwegian market in its customer and product segments.
Maxeta will become part of the business unit Energy Supply, providing key products to augment the Addtech Group’s sales of electrotechnical products in the Norwegian market. Maxeta has fifty employees and revenue of approximately NOK 80 million.
The closing is estimated to take place 1 July 2011 after approval is obtained from the appropriate authorities. The acquisition is estimated to have a marginally positive effect on Addtech’s earnings per share during the current financial year.
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