Indutrade acquires Finnish supplier of advanced cable systems
Indutrade has on 4 January signed an agreement to acquire all of the shares in the Finnish company Pistesarjat Oy, www.pistesarjat.fi/fi/ with annual sales of approximately EUR 9 million.
Pistesarjat is a technical trading company offering heating- and frost protection cable systems, fire-resistant cable and data cable systems, from global leading suppliers to customers in Finland. With more than 40 years of experience, Pistesarjat offers high quality solutions for applications areas such as defrosting, electric heating, concrete hardening, industry trace-heating and fire-proof cabling. The products are sold directly to industry customers and through electrical contractors, installing the cable systems. End customers are operating mainly in the construction and heavy industry sectors. The company is based in Espoo, Finland, and has 25 employees.
The closing takes place today, and Pistesarjat will be included in Indutrade's Business Area Finland.
The acquisition is expected to have a marginally positive impact on Indutrade's earnings per share.
Stockholm, 4 January 2021
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Tel. +46 8 703 03 00
Indutrade is an international technology and industrial business group that today consists of more than 200 companies in some 30 countries, mainly in Europe. In a decentralised way, we aim to provide sustainable profitable growth by developing and acquiring successful companies managed by passionate entrepreneurs. Our companies develop, manufacture, and sell components, systems and services with significant technical content in selected niches. Our value-based culture, where people make the difference, has been the foundation of our success since the start in 1978. Indutrade's net sales totalled SEK 18.4 billion in 2019, and the share is listed on Nasdaq Stockholm in Sweden.