Indutrade acquires West Technology – specialist in fingerprint forensic systems
Indutrade has signed an agreement to acquire all shares in the British company West Technology Systems Ltd., www.west-technology.co.uk, with annual sales of approximately GBP 4.0 million (SEK 50 million).
West Technology is a specialised manufacturer of equipment for forensic latent fingerprint development to the global market. The product offering includes proprietary Vacuum Metal Deposition (“VMD”) systems, the most powerful latent fingerprint development technique available, as well as vacuum systems from external manufacturers and aftermarket services. The customer base mainly consists of police forces, federal and government agencies, universities, and private forensic laboratories.
West Technology was founded in 1993, has 22 employees and is located in Bristol, UK. As an add-on to VES, the companies’ combined offerings will provide good growth opportunities as they share similar core technologies and strengthen each other. VES, acquired by Indutrade in 2016, is a leading manufacturer of leak detection equipment.
The closing takes place today and West Technology will be included in Indutrade's Business Area Technology & Systems Solutions. The acquisition is Indutrade's eleventh in 2024 and is expected to have a marginally positive impact on Indutrade's earnings per share.
Stockholm, 19 June 2024
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 32 billion in 2023, and the share is listed on Nasdaq Stockholm in Sweden.