Addtech acquires PGS Tec GmbH

Addtech Process Technology, a business area in the Addtech Group, has today signed an agreement to acquire 85 % of the shares outstanding in PGS Tec GmbH (”PGS”).

PGS designs, assemble and install customised water and gas supply systems to pharmaceutical, industrial and laboratory customers. The offering covers the entire spectrum of pipeline infrastructure, including valves, instrumentation and automation as well as service and maintenance. PGS has 15 employees and a turnover of approximately EUR 7 million and is headquartered in Wolpertswende, Germany.

PGS will become part of and complement our operations within the Process Control business unit and strengthen our position in the European market.

Closing will takes place at the beginning of October. The acquisition is expected to have a marginally positive impact on Addtech's earnings per share during the current financial year.

Stockholm, September 17, 2024

Addtech AB (publ)
 

For further information, please contact
Niklas Stenberg, President of Addtech AB, +46 470 49 00
Claus Nielsen, Business Area Manager, 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 4,000 employees in more than 150 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 20 billion. Addtech is listed on Nasdaq Stockholm.

The information was submitted for publication, through the agency of the contact persons set out above, at 17 September 2024, at 9.00 a.m (CEST).