Indutrade acquires UK Gas Technologies Group
Indutrade has on 17 September signed an agreement to acquire all of the shares in the British company UK Gas Technologies Ltd, www.ukgastech.co.uk, with annual sales of approximately GBP 11 million. The agreement was signed after the market closed.
UK Gas Technologies is a manufacturing group offering custom-made solutions for high purity medical and laboratory gases, purified water and steam systems, as well as other process installations and specialist systems. Their worldwide customers can be found within segments such as healthcare and hospitals, pharmaceutical manufacturing, research laboratories, and solar cell and semiconductor manufacturers.
Founded in 1983, the group today consists of the three companies Medical Gases Ltd, Microgas Systems Ltd, and Puretec Process Systems Ltd. UK Gas has 32 employees and is based in Gatwick Surrey, United Kingdom.
The closing takes place today, and UK Gas Technologies will be included in Indutrade's Business Area Flow Technology.
The acquisition is expected to have a marginally positive impact on Indutrade's earnings per share.
Stockholm, 17 September 2020
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Phone: +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.