Volati continues to grow through the acquisition of Scanmast
Volati has signed an agreement to acquire Scanhold AB, the parent company of Scanmast – a leading supplier of mast and tower infrastructure for telecom, lighting and surveillance. The acquisition broadens Volati’s operations to an attractive new area with growth potential. Scanmast will become a new business unit in the Industry business area.
The acquisition of Scanmast broadens Volati’s operations to new areas. The acquisition complements the more synergistic add-on acquisitions for existing businesses that Volati has been making at a rapid pace in recent years. A total of six add-on acquisitions have been completed since 2020, with combined net sales of approximately SEK 1 billion.
“We are very pleased at the opportunity to acquire Scanmast. The company is a great match for the criteria that we value in acquisitions: a leading position in its market, a successful and proven business model and strong cash flows. All in all, this creates a sound basis for continued value creation together with the company’s management. The acquisition also gives us additional exposure to the infrastructure sector, into which Volati has already taken a large step with the acquisition of S:t Eriks three years ago. We believe that structural growth will continue in many infrastructure segments and with the acquisition of Scanmast we are now broadening our focus to include telecom,” says Volati CEO Andreas Stenbäck.
Scanmast is a market-leading supplier of infrastructure, mainly in the form of masts and towers for telecom, lighting and surveillance, and pipeline bridges for the industrial and transportation sectors. The company is a turnkey supplier, delivering complete projects – from design and project planning to construction, installation and maintenance. Telecom is the largest single segment and consists primarily of mobile network expansion and upgrade projects. Sweden is the largest market, accounting for approximately 70 percent of sales, followed by Norway and Finland. Scanmast has 83 employees and is headquartered in Mora. Net sales for the rolling twelve months ended 31 March 2021 amounted to SEK 294 million, with EBITDA of SEK 31 million and EBITA of SEK 28 million.
“We are delighted to welcome Scanmast to Business Area Industry. The acquisition broadens our business to telecom, where Scanmast is well positioned for the upcoming roll-out of 5G networks through several framework agreements. The acquisition also strengthens our presence in other Nordic markets. We are convinced that Volati’s long-term ownership perspective and successful company development model will contribute positively to Scanmast’s continuing development, while maintaining strong local roots,” says Nicklas Margård, Head of Business Area Industry.
Volati has signed an agreement to acquire all shares in Scanhold AB from Priveq and other private shareholders. The acquisition is being conducted at an estimated enterprise value of approximately SEK 245 million. The purchase consideration for the shares is approximately SEK 223 million. In connection with Volati’s acquisition, Scanmast’s CEO has also acquired shares in the company. The acquisition is financed through Volati’s existing credit facilities and is expected to be completed on 30 June 2021. The acquisition is expected to have a positive effect on Volati’s results for 2021.
This information is information that Volati AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08.30 CEST on 22 June 2021.
For further information, please contact:
Andreas Stenbäck, CEO Volati AB, +46 70 889 09 60, andreas.stenback@volati.se
Nicklas Margård, Head of Business Area Industry, +46 76 200 85 78, nicklas.margard@volati.se
Volati AB (publ)
Engelbrektsplan 1, SE-114 34 Stockholm
Tel: +46 8 21 68 40
Email: info@volati.se
Corp. reg. no.: 556555-4317
About Volati
Volati is a Swedish industrial group, founded in 2003, consisting of the business areas Salix Group and Industry. Volati mainly acquires companies with proven business models, leading market positions and strong cash flows at reasonable valuations and develops them with a focus on long-term value creation. The strategy is to build on the companies’ identity and entrepreneurial spirit, adding leadership, expertise, processes and financial resources. Volati has operations in 16 countries, approximately 1,500 employees and annual sales of just over SEK 5 billion. Volati’s ordinary shares and preference shares are listed on Nasdaq Stockholm. Further information is available at www.volati.se.