Addtech acquires Allied Insulators Ltd
Addtech Energy, a business area in the Addtech Group, has today signed an agreement to acquire 100 percent of the shares outstanding in Allied Insulators Ltd (“Allied Insulators”).
Allied Insulators is a leading supplier of equipment and components for electrical distribution- and transmission lines and sub-stations in the UK. The company also exports, mainly to the Middle East and New Zealand.
Allied Insulators has a long history and is a well-established supplier to network owners in selected core markets. The company is headquartered in Tunstall, Staffordshire, has 15 employees and annual sales of approximately GBP 6 million.
"The acquisition of Allied Insulators further strengthens our position as a leading player in the field of electric transmission lines. Allied Insulators complements our operations in an excellent way and establishes us as a significant supplier of overhead line material to network owners outside the Nordic region," says Hans Andersén, Business Area Manager Addtech Energy.
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, August 1, 2022
Addtech AB (publ)
For further information, contact
Niklas Stenberg, CEO, Addtech AB, +46 8 470 49 00
Hans Andersén, Business Area Manager, Addtech Energy, +46 70 677 17 09
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 August 1, 2022, at 8:00 p.m. (CEST).