Addtech Power Solutions, a business area in the Addtech Group, has today signed an agreement to acquire 100% of the shares outstanding in ESi Controls Ltd.
ESi (Energy Saving Innovative) Controls is a UK based company designing and delivering energy efficient electronic controls for heating and smart building applications. ESi Controls Ltd has a turnover of approximately GBP 8 million and have 15 employees.
ESi will very effectively complement and strengthen Addtech's sustainability initiatives with its focus on providing bespoke energy efficient controls for major National and International OEM's as well as the building sector in UK.
The closing will take place during April and is estimated to have a marginally positive effect on Addtech's earnings per share during the next financial year.
Stockholm, March 17, 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, +46 707 95 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 March 17, 2021 at 8.40 p.m (CET).
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