Indutrade acquires leading provider of professional balances and scales
Indutrade has on 2 May 2019 signed an agreement to acquire all of the shares in Adam Equipment Co Ltd (www.adamequipment.co.uk), with annual sales of approximately GBP 12 million. The agreement was signed after the market closed.
Adam Equipment develops, manufactures and sells a broad range of precision balances and scales for professional use. The company was founded in 1972 and the offering includes an extensive portfolio of weighing products and equipment, used worldwide in the laboratory, medical, education, industrial and food markets. The broad product range consists of inhouse developed balances and scales, which are often customised to specific end markets and application areas.
Headquartered in the United Kingdom, the company has established sales offices in Europe, North America, Africa, Asia and Australia to provide product support and speedy delivery to customers. Adam Equipment has a total of approximately 180 employees.
The closing took place 2 May and the company will be included in Indutrade’s Business Area Measurement & Sensor Technology.
The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.
Stockholm, 3 May 2019
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Phone +46 8 703 03 00
Indutrade markets and sells components, systems and services with a high-tech content within selected niches. Indutrade’s business is distinguished by
- High-tech products for recurring needs
- Growth through a structured and tried-and tested acquisition strategy
- A decentralised organisation characterised by an entrepreneurial spirit
The Group is organised into eight Business Areas: Benelux, DACH, Finland, Flow Technology, Fluids & Mechanical Solutions, Industrial Components, Measurement & Sensor Technology and UK. Indutrade’s sales totalled SEK 16,848 million in 2018, generating an operating profit of SEK 2,087 million before amortisation of intangible assets. Indutrade is listed on Nasdaq Stockholm. Please read more at www.indutrade.com