Indutrade’s acquisition of Inovatools Group completed
As announced in a press release on 22 September, Indutrade today carried out the acquisition of all the shares in the German Inovatools Group (www.inovatools.eu), with annual sales of approximately EUR 33 million.
Inovatools, established in 1990, is a manufacturer of metal cutting tools. Its offering is centered around solid carbide end mills and tools. Customers are in the mechanical engineering industry, aeronautical engineering industry, automobile industry and tool manufacturing industry. Half of the group’s sales are exported, while the other half are sold to customers in Germany. Inovatools has subsidiaries in Italy, Spain, Portugal, Austria, the USA and Turkey. The group has some 200 employees.
Possession of the company takes place today and Inovatools will be included in Indutrade’s Special Products business area.
The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.
Stockholm, 27 November 2017
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO, tel. +46 8 703 03 00.
About Indutrade
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 six business areas: Engineering & Equipment, Flow Technology, Fluids & Mechanical Solutions, Industrial Components, Measurement & Sensor Technology and Special Products. Indutrade’s sales totalled SEK 12,955 million in 2016, generating operating income of SEK 1,484 million before depreciation of intangible assets. Indutrade is listed on Nasdaq Stockholm.