Addtech acquires Peter Andersson AB
Addtech Energy, a business area in the Addtech Group, has today signed an agreement to acquire all shares outstanding in Peter Andersson AB (”Andersson System”).
Andersson System supplies both trading products and own products within electrical accessories for office and kitchen environments, to the Swedish and Norwegian markets.
The products are sold through retailers of office furniture, office interiors, AV equipment, computer accessories and kitchen furnishings. The company has nine employees and annual sales of around 30 million SEK.
Andersson System will very effectively complement the operations in the business unit Energy Products, focusing on energy efficient electrical installation products sold to customers within installation and industry.
The closing is estimated to take effect in the beginning of April 2020 and is expected to have a marginally positive effect on Addtech’s earnings per share during the next financial year.
Stockholm, March 9, 2020
Addtech AB (publ)
For further information, contact
Niklas Stenberg, President of Addtech AB, +46 702 67 94 99
Hans Andersén Business Area Manager, Addtech Energy, +46 70 677 17 09
Addtech is a technology trading 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 2 900 employees in around 130 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 11 billion. Addtech is listed on Nasdaq Stockholm.
This information was submitted for publication on March 9, 2020 at 10.30 a.m (CET).