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Addtech

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Addtech acquires IETV Elektroteknik AB

09:30 / 12 March 2021 Addtech Press release

Addtech Energy, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in IETV Elektroteknik AB.

IETV Elektroteknik AB is a knowledge company that offers qualified services in power supply to railways, hydropower and industry. With cutting-edge technology, the company creates sustainable value for customers and end users. The company is primarily active in Sweden and Norway.

IETV Elektroteknik AB has thirty-eight employees and has annual sales of approximately SEK 80 million.

IETV Elektroteknik AB develops the operations conducted in the Energy Supply business unit in the area of operation and maintenance of railway facilities and power generation. 

Closing will take place during May and the acquisition is expected to have a marginally positive impact on Addtech's earnings per share during the coming financial year.

Stockholm, March 12, 2021

Addtech AB (publ)

For further information, contact
Niklas Stenberg, President of Addtech AB, +46 702 67 94 99
Hans Andersén Business Area Manager, Addtech Energy, +46 70 677 17 09

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 12, 2021 at 9.30 a.m (CET).

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