Opcon divests company focused on superchargers primarily for aftermarket
Opcon, the energy and environmental technology Group, today sold its shareholding in its subsidiary, Lysholm Technologies. The buyer is a newly formed Group, Vortech Three, whose majority owner is the owner of Vortech Engineering LLC of California, USA, a major customer of Lysholm. Opcon will receive a minority shareholding in Vortech Three as payment for the shares in Lysholm. Opcon will retain all patents and brands. Vortech/Lysholm will have the right to use the brands and technology in the US and in aftermarket applications. The exception will be sales connected with OEM deliveries of superchargers in Europe, which Opcon will retain control over. Vortech/Lysholm is also signing a licence agreement with Opcon’s development company, Svenska Rotormaskiner, which has been developing screw compressor technology since the 1930s. The agreement gives Vortech/Lysholm key access to development in this field. Vortech Three also contains technology of interest to Opcon. The sale of Lysholm does not involve any change in value of the Group’s assets. “In our strategic focus on energy and environmental technology there is no room for the type of business Lysholm carries out that involves aftermarket installations for combustion engines. In Vortech Three, Lysholm will find a place in a Group that has a strategy more in line with its activities. This gives Lysholm better opportunities for the future with a stronger foothold on the key American market and access to new, more effective sales channels. Through a licence agreement with our development company, SRM, Lysholm/Vortech Three will continue to have decisive access to our unique technology and our expertise,” says Rolf Hasselström, President and CEO of Opcon AB. “In the hunt for lower emissions currently taking place in the auto industry we are also noting increased interest in our technology from the auto industry in future OEM applications. With larger volumes and a clear connection to cutting emissions this business is of strategic interest to us and we will therefore continue to be active on this market,” adds Rolf Hasselström, President and CEO of Opcon AB.