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Addtech

Addtech

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Addtech acquires Powernor AS

13:20 / 5 January 2021 Addtech Press release

Addtech Power Solutions, a business area in the Addtech Group, has today signed an agreement to acquire 100% of the shares outstanding in Powernor AS.

Powernor is based in Norway, where they specify, design and deliver complete UPS systems with battery backup in demanding applications for hospitals, infrastructure and industry. Powernor has a turnover of approximately NOK 35 million and have 6 employees.

Powernor will very effectively complement and strengthen Addtech's current operations in the Power Solutions business area.

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, January 5, 2021

Addtech AB (publ)

For further information, contact
Niklas Stenberg, CEO, Addtech AB, +46 702 67 94 99
Per Lundblad, Business Area Manager, Addtech Power Solutions, +46 70 795 66 02

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 3 000 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.

This information was submitted for publication on January 5, 2021 at 1.20 p.m (CET).

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