Nederman acquires NEO Monitors AS, a leading provider of gas and dust analyzers
Nederman has signed an agreement to acquire 100% of the shares in NEO Monitors AS, a world-leading provider of innovative laser-based gas and dust analyzers for industrial use. NEO Monitors AS is based in Oslo, Norway.
NEO Monitors is a global pioneer in laser-based solutions for measuring gases and dust across all industries. The company has secured a leading position in all generations of laser-based measurement technologies and has the largest installed base of TDLS analyzers (Tunable Diode Laser Spectrometry), with more than 11 000 instruments installed in over 40 countries. The company’s expertise and engineering capabilities allows for more than 100 different configurations tailored to customer needs, helping global industries to achieve better processes control, decreased operational costs and increased efficiency.
The acquisition price amounts to approximately NOK 402 million on a cash and debt free basis, funded by a combination of cash and existing bank facilities. The acquisition price will be paid in two installments, the first installment of 250 MSEK on completion of the acquisition, which is expected to be in early November 2017, and the second installment two calendar years after completion.
NEO Monitors AS, with approximately 40 employees, had a turnover in 2016 of NOK 108 million. Turnover for 2017 is forecast to significantly exceed 2016. The acquired business has an EBITDA margin in excess of the Nederman Group and is expected to have a positive impact on earnings per share from the date of acquisition completion.
NEO Monitors will be part of Nederman’s Digital Solutions organization. The NEO Monitor brand and team will continue to operate as before and the solutions will become an integrated part of the Nederman Insight application and digital ecosystem that builds on connectivity and Internet of Things.
“We are delighted to welcome NEO Monitors as part of our digital ambitions and plans,” says Aage Snorgaard, Senior Vice President, Digital Solutions.
“There is an excellent strategic fit between Nederman and NEO Monitors. We see great complementary value in combining Nederman’s global solutions and strong aftermarket services with the portfolio and advanced capabilities provided by NEO Monitors. With this acquisition, Nederman becomes a stronger partner for our customers going forward,” says President and CEO, Sven Kristensson.
|For further information, please contact:|
|Sven Kristensson, CEO||Matthew Cusick, CFO|
|Telephone: +46 42 18 87 00||Telephone +46 42 18 87 00|
|e-mail: firstname.lastname@example.org||e-mail: email@example.com|
This information is information that Nederman Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16:25 p.m. CET on October 25, 2017.
Facts about Nederman
The Nederman Group is a world-leading supplier and developer of products and solutions within the environmental technology sector. We filter, clean and recycle in demanding industrial environments. Clean air is a cornerstone for sustainable production and Nederman’s products and solutions improve production efficiency, reduce environmental impact and protect employees from harmful dust, smoke and fumes. The Nederman Group is listed on Nasdaq Stockholm. The Group has 1800 employees and presence in more than 50 countries. Learn more at nedermangroup.com
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