Indutrade acquires the Irish electrical safety and test equipment expert Powerpoint Engineering
Indutrade has signed an agreement to acquire all shares in the Irish company Powerpoint Engineering Ltd., www.powerpoint.ie, with annual sales of approximately EUR 13 million (SEK 150 million).
Powerpoint Engineering is a technical trading company that specialises in electrical safety and test equipment for use in high and medium voltage applications, to protect operators from electrical hazards. The product range includes electrical test instruments, energy monitoring equipment, accessories as well as a comprehensive suite of electrical testing services, training courses, in-house calibration and repair services. The company primarily targets the Irish market and has over 1 000 active customers, including generating stations, utility companies, high and medium voltage specialist contractors, advanced manufacturing plants, data centres, windfarms, pharmaceutical companies and facility management companies. Powerpoint Engineering was founded in 1996, has 29 employees and is located in Portlaoise, Republic of Ireland.
“Powerpoint Engineering is a purpose-driven company with clear growth potential, supported by the continuously increasing focus on worker safety. The company is well-managed, has extensive expertise in its niche and strong relationships with its customers and partners. We are pleased to welcome them to the Indutrade-family”, says Bo Annvik, President and CEO of Indutrade.
The closing took place on 6 October and Powerpoint Engineering will be included in Indutrade's Business Area UK. The acquisition is Indutrade's eighth in 2023 and is expected to have a marginally positive impact on Indutrade's earnings per share.
Stockholm, 9 October 2023
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Phone +46 8 703 03 00
About Indutrade
Indutrade is an international technology and industrial business group that today consists of approximately 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 27 billion in 2022, and the share is listed on Nasdaq Stockholm in Sweden.