Indutrade acquires lighting company Nortronic AS
Indutrade has on 3 March signed an agreement to acquire all of the shares in the Norwegian company Nortronic AS (https://www.nortronic.no/) with annual sales of approximately NOK 55 million.
Nortronic is a technical trading company within the lighting market, representing European market leading brands within the area of LED lighting solutions, lighting controls and drivers. Customers include for example electrical wholesalers, lighting companies and retail businesses. Nortronic’s offering includes energy-efficient and innovative lighting solutions for both indoor and outdoor environments, with focus on the design element. Nortronic has 16 employees and is based in Kolbotn, Norway.
The closing takes place today and Nortronic will be included in Indutrade's Business Area Industrial Components.
The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.
Stockholm, 3 March 2020
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 18,411 million in 2019, generating an operating profit of SEK 2,330 million before amortisation of intangible assets. Indutrade is listed on Nasdaq Stockholm. Please read more at www.indutrade.com