Addtech acquires IPAS
Addtech Energy, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in IPAS AS.
IPAS is a well established supplier of products and solutions within professional lighting to in Norway
The Company is established in the segments industrial lighting, outdoor lighting and indoor lighting. The products are sold to installers, wholesalers, industry and municipalities.
IPAS will complement Addtech's current operations in the business unit Energy Products. The Company has 10 employees and sales of around 4 million EUR.
The closing is estimated to take effect in the beginning of January 2018 and is expected to have a marginally positive effect on Addtech’s earnings per share during the current financial year.
Stockholm, 20 December, 2017
Addtech AB (publ)
For further information, contact
Johan Sjö, President, Addtech AB, +46 8 470 49 00
Hans Andersén, Business area manager, Addtech Energy, +46 70 677 17 09