Indutrade gains foothold in Ireland
Indutrade today signed an agreement to acquire all of the shares in ESI Technologies Ltd, Ireland, with annual sales of approximately EUR 19 million.
ESI Technologies is a technology sales company specialising in flow technology. Business is conducted in Ireland and the UK. Customers are mainly in the pharmaceutical, chemical, and oil and gas industries.
"With the acquisition of ESI we have strengthened our position in a geographic market that is important for us," says Johnny Alvarsson, President and CEO of Indutrade.
The Directors of ESI commented: “ESI’s strategic plan has been to expand its services to its customers via a complete premium process portfolio which is supported by experienced and dedicated staff. This strategy has been successful in Ireland, where we have a significant percentage of the market spend. With Indutrade’s support and appetite for further growth by acquisition ESI can now accelerate and replicate this success in the UK”.
Possession will be transferred today, and the company will be part of Indutrade’s Special Products business area. The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.
Stockholm, 18 April 2013
INDUTRADE AB (publ)
For further information, please contact:
Johnny Alvarsson, President and CEO, tel. +46 70 589 17 95.