Agreement to acquire two lighting companies in Germany
ITAB, one of Europe's largest suppliers of shop fitting concepts and lighting systems, has through subsidiary signed an agreement to acquire D & L Lichtplanung GmbH and D.Lindner Lichttechnische Grosshandlung GmbH, based in Menden, Germany. The acquisition also include assets in U. Wallmeier Beleuchtungstechnik and Vockroth u. Wallmeier GbR Electrical installation.
Completion is subject to customary regulatory approval and is expected within a month. The two companies had sales of 22 MEUR in 2016 and has 50 employees. The purchase price for the shares and assets is equivalent to approximately 14 MEUR on a cash and debt free basis, with an additional purchase price of a maximum of 2 MEUR. The acquisition is estimated to have a positive effect of 0.15 SEK on ITAB's annual earnings per share, before the effects of synergies.
The acquired companies are together one of Germany's leading players in the sale of lighting systems, primarily in the non-food German market. The companies are sales companies with expertise in lighting planning and design.
The acquisition is part of intensifying the market activities in the German market and strengthens ITAB's position. The acquisition is expected to create synergies and ITAB will offer the German customers a combination of local lighting knowledge with global sourcing of lighting products. The acquisition is in consistent with the Group's continued focus on the sale of the all-inclusive concept to the retail-market.
For further information, please contact:
ITAB Shop Concept AB
CEO Ulf Rostedt
Phone: 46 36 31 73 00
Mobile: 46 70 694 86 82
Box 9054, SE-550 09 JÖNKÖPING, SWEDEN
Telefon: 46 36 31 73 00
ITAB Shop Concept AB sells, develops, manufactures and installs complete shop fitting concepts for retail chain stores. The all-inclusive offer includes custom-made fitting concepts, checkouts, self-checkout systems and professional lighting systems. Customers include the major players throughout most parts of Europe. ITAB is the market leader at checkout to retailers in Europe, and one of Europe's largest suppliers of shop fitting concepts and lighting systems. The group has approximately 3,600 employees and had 2016 a turnover of SEK 5,417 million. ITAB B-share is listed on the Nasdaq Stockholm.