Addtech acquires Advanced Valve Solutions B.V.
Addtech Process Technology, a business area in the Addtech Group, has today signed an agreement to acquire 100 % of the shares outstanding in Advanced Valve Solutions Holding B.V. (“AVS”).
AVS is a niche provider of engineered high-end valves, steam attemperators and valve systems mainly to the power generation industry. AVS’s primary markets are Benelux and UK with increasing sales in other selected export markets. The company has an international organisation with 27 employees, is headquartered outside Amsterdam, The Netherlands, and has annual sales of approximately EUR 13 million.
“AVS is a well-run company with a unique and sustainable offering in the rapidly growing energy segment. With its deep application knowledge, AVS has developed a strong sales proposition for increased reliability and fast start/stop of Combined Cycle Gas Turbine (CCGT) power stations that enables and support the transition to renewable energy”, says Claus Nielsen, Business Area Manager Process Technology.
The closing will take place today and is estimated to have a marginally positive effect on Addtech’s earnings per share during the current financial year.
Stockholm, December 1, 2022
Addtech AB (publ)
For further information, contact
Niklas Stenberg, CEO, Addtech AB, +46 8 470 49 00
Claus Nielsen, Business Area Manager, Addtech Process Technology, +45 20 75 75 30
Addtech is a technical solutions group that provides technological and economic value added in the link between manufacturers and customers. Addtech operates in selected niches in the market for advanced technology products and solutions. Its customers primarily operate in the manufacturing industry and infrastructure. Addtech has about 3,500 employees in more than 140 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 14 billion. Addtech is listed on Nasdaq Stockholm.
This information was submitted for publication on December 1, 2022, at 3:30 p.m. (CET).
