Addtech acquires GoDrive AS

Addtech Industrial Solutions, a business area in the Addtech Group, has today signed an agreement to acquire 100 % of the shares outstanding in GoDrive AS (“GoDrive”).

GoDrive is a leading supplier of frequency converters and accessories on the Norwegian market. GoDrive will become a part of and complement our operations in the BEVI-group who is a supplier of electric drive systems. GoDrive has 5 employees and a turnover of approximately NOK 75 million with headquarters in Vrådal, Norway.

The closing takes place today. The acquisition is expected to have a marginally positive impact on Addtech's earnings per share during the current financial year.

Stockholm, April 29, 2024

Addtech AB (publ)

For further information, please contact
Niklas Stenberg, President of Addtech AB, +46 470 49 00
Daniel Prelevic, Business Area Manager, Addtech Industrial Solutions, +46 703 09 93 29

Addtech is a technical solutions 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 3,900 employees in more than 150 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 18 billion. Addtech is listed on Nasdaq Stockholm.

The information was submitted for publication, through the agency of the contact persons set out above, at 29 April 2024, at 4.00 p.m (CEST).