Addtech acquires Feritech Global Ltd

Addtech Industrial Solutions, a business area in the Addtech Group, has today signed an agreement to acquire 90 % of the shares outstanding in Feritech Global Ltd (”Feritech”).

Feritech is a leader in the design and manufacture of bespoke technical solutions for the geotechnical subsea sector. The company has a broad offering and operates globally mainly towards the expansion of offshore wind power. Feritech is headquartered in Cornwall, UK, has 21 employees and a turnover of approximately GBP 4.5 million.

Feritech complements and strengthens Addtech's existing operations within the Vehicle Solutions business unit.

The closing takes place today. The acquisition is expected to have a marginally positive impact on Addtech's earnings per share during the current financial year.

Stockholm, May 5, 2023

Addtech AB (publ)

For further information, please contact
Niklas Stenberg, President of Addtech AB, +46 470 49 00
Daniel Prelevic, Business Area Manager, Industrial Solutions, +46 70 309 93  29

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.

The information was submitted for publication, through the agency of the contact persons set out above, at May 5, 2023, at 5:15 p.m (CEST).