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Addtech

Addtech

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Addtech acquires Martin Bruusgaard AS

15:15 / 7 September 2020 Addtech Press release

Addtech Industrial Process, a business area in the Addtech Group, has today signed an agreement to acquire 80% of the shares outstanding in Martin Bruusgaard AS ("Bruusgaard").

Bruusgaard delivers a unique turnkey portable gas detection solution, providing its customers in the marine industry increased safety and reduced cost and transportation through standardised instruments, routines, training and procurement.

Bruusgaard will very well complement Addtech Industrial Process' current operations in the business unit Process Technology and within the marine segment. The Company has 30 employees and sales of around NOK 110 million. The current owner Dag Maartmann will remain as the Managing Director and a minority owner with 20% percent of the shares in the company.

The closing will take place today and is estimated to have a marginally positive effect on Addtech's earnings per share during the current financial year.

Stockholm, September 7, 2020

Addtech AB (publ)

For further information, contact
Niklas Stenberg, President of Addtech AB, +46 702 67 94 99
Claus Nielsen, Business Area Manager, Addtech Industrial Process, +45 20 75 75 30

Addtech is a technology trading group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 3000 employees in around 130 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 11 billion. Addtech is listed on Nasdaq Stockholm.

The information was submitted for publication on September 7, 2020 at 3.15 p.m (CET).

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