Addtech acquires S. Tygesen Energi A/S

Addtech Energy, a business area in the Addtech Group, has signed an agreement to acquire 100 % of the shares outstanding in S. Tygesen Energi A/S (”Tygesen”).

Tygesen sells equipment and electricity transmission materials for electrical distribution networks, transmission networks, railways and stations in Denmark. The company also operates in Greenland, Iceland and the Faroe Islands. Tygesen has 3 employees and annual sales of approximately DKK 50 million.

Tygesen complements well the operations conducted with products for high-voltage grids within Addtech Energy and strengthens our position in the electricity transmission segment in Denmark.

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

Stockholm, June 26, 2023
 

Addtech AB (publ)
 

For further information, please contact
Niklas Stenberg, President of Addtech AB, +46 470 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 3,900 employees in more than 150 subsidiaries that operate under their own brands. The Group has annual sales of more than SEK 18 billion. Addtech is listed on Nasdaq Stockholm.

The information was submitted for publication, through the agency of the contact persons set out above, at June 26, 2023, at 3.00 p.m (CEST).