Opcon acquires Mitec Instrument AB

Opcon signed a declaration of intent today concerning the acquisition of 100% of Mitec Instrument AB. The acquisition is an important part of Opcon’s strategy of achieving growth through technology developed by its subsidiaries for the production of electricity from surplus heat (Opcon Energy System) and actuators (REAC).

Mitec is a highly advanced supplier of products and systems developed in-house for measurement, control, regulation, mobile data collection and wireless internet-based operational surveillance of complicated products and industrial systems.

”The acquisition of Mitec is an important addition to our business. Mitec brings core competence to our company and secures the service and aftermarket business that is being established in Opcon Energy Systems and which is part of future customer assignments. We can now make a complete product offer to the customer, including systems, installation and operational monitoring,” says Rolf Hasselström, CEO of Opcon.

”Furthermore we gain access to resources that will enable us to develop REAC’s actuator business with more advanced products and systems. This includes technology for monitoring, positioning, control and regulation, which are key components for the strategic development of REAC,” adds Hasselström.

The acquisition also means that Opcon gains a platform on which it can build aftermarket activities for several of the Group’s activities.

“Mitec has a strong base selling its own products and systems that will now have the opportunity to develop further within Opcon through the financial and business strengths created by the change of ownership,” says Rolf Hasselström.