On October 28, Soltech Energy Sweden AB (publ) acquired the remaining 20 percent of the shares in the subsidiary Takrekond i Småland AB with entry on the same day. Soltech Energy now owns 100 percent of the company and the acquisition of the remaining shares in the company is part of the plan to continue strengthening Takrekond's transformation towards adding solar energy to the roofing business. Takrekond has a 20 employees and expects to have a turnover of approx. 30 million in 2022 with a good profit margin. The acquisition is financed entirely from own cash and with newly issued Soltech shares.
On October 1, 2020, Soltech acquired 80 percent of Takrekond i Småland. On the same day in 2020, 100 percent of Takrekond i Kalmar was also acquired, which is the second twin of the two Takrekond companies.
Now the remaining 20 percent of Takrekond i Småland is also being acquired. This means that Soltech now owns 100 percent of both companies, which during their time at Soltech have been transformed to also have energy solutions in addition to their core expertise in roofing.
– Takrekond is a highly valued company within the Group. They have made an amazing journey from being a traditional roofing company to now also offering solar energy solutions and they have been involved in several solar energy projects during their time in the group That is why we are happy to acquire the remaining part of the company to further support their transformation journey, says Stefan Ölander, CEO of Soltech Energy.
Transformed into a solar roof company
Takrekond is a leading company in the roofing industry with headquarters in Växjö and Kalmar. With over 30 years of experience, Takrekond is well-known in the region, and they are now being transformed into a solar roof company. Since the start of Soltech, they have helped both new and previous customers with various types of solar energy solutions. The company has a dedicated solar energy project manager and CEO Nisse Jansson sees that this will create even better opportunities going forward.
– Now we have even better opportunities to develop our solar energy offer in combination with our expertise in roofing Being part of the Soltech Group gives us a strength we didn't have before, and I see a very bright future for both Takrekond and for the Group as a whole, says Nisse Jansson, CEO Takrekond.
E-Mobility is one of the latest acquisitions within the Soltech Group. Now the company has completed a prestigious assignment when helping industrial company Fiskarhedens Trävaru AB to install 76 charging points in connection with their sawmill in Fiskarheden. An investment that was partly financed by the EU and which means that the sawmill can now offer its employees smart electric car charging.
Borlänge-based E-Mobility offers comprehensive solutions in planning, installation, and operation of large electric car charging stations, associated software for customer management and billing, energy storage and also solar energy solutions. The company has been part of Soltech since September 1, 2022 and has now completed a prestigious order in Dalarna.
E-Mobility has helped the sawmill Fiskarheden with electric car charging for their employees and visitors. Each electric car charger is also equipped with intelligent control of the engine heater outlet.
– This order has been a big project for us and we are grateful for the trust and for good cooperation. Fiskarheden is making a strategic investment and can now offer safe and efficient charging stations for employees and visitors. This will also contribute
to Fiskarheden as an employer as the number of electric cars continues to increase and the demand for electric car charging increases, says Martin Götesson, CEO of E-Mobility.
Charging services for Fiskarheden employees
The society has high demands and a rising need for more electricity and renewable energy. In 2021 alone, the number of electric cars in Sweden doubled. This was a contributing reason for the company to build up its own charging infrastructure at its sawmill in Fiskarheden, a venture that is partly financed by the European Union – NextGenerationEU. Magnus Larsson, CEO at Fiskarheden also sees that employers who want to create attractive workplaces in the future need to be able to offer a smart charging infrastructure.
– We see great advantages in investing in our own charging infrastructure. Society is becoming electrified, and our employees will most certainly drive electric cars in the future. This investment also strengthens us as a company we believe charging stations will become a hygiene factor for employers and property owners as a service to employees in the near future, says Magnus Larsson, CEO of Fiskarheden.
The solar energy company Soltech Energy Solutions has signed an agreement with the municipal energy company Öresundskraft for a roof-mounted solar energy installation on a logistics property in Bjuv's logistics and food center. The solar installation will measure approximately 9,400 square meters and consist of 3,624 solar panels. The property is owned by Foodhills Fastigheter, and the German food box company, Hellofresh, will operate the facility. The solar energy solution is expected to be commissioned in the spring of 2023.
The Soltech company Soltech Energy Solutions has a vast experience of large-scale solar energy solutions. Now the company has been commissioned to build a roof-mounted solar energy solution for the municipal energy company Öresundskraft, which Foodhills Fastigheter then will own. When completed, the solar panels will have an installed output of 1,975 kWp and will contribute with an electricity production that covers 30 percent of the property's electricity needs.
The installation will be commissioned on Foodhills Fastigheter's newly produced logistics property in the heart of the newly formed food cluster in Bjuv, which has been given new life after Findus shut down its historical pea production in the area in 2016. The area is now once again an active logistics and food hub but are like many other businesses in southern Sweden facing challenges such as high electricity prices.
– It feels fantastic that we get to participate and contribute to the energy supply in an area that plan for the future overall sustainability and creates an important function for our food supply. Therefore, this assignment feels extra motivating and our partner Öresundskraft is making an important contribution to the area's future electricity supply, says André Nylén, Key Account Manager at Soltech Energy Solutions.
Food production powered by solar energy
Since Foodhills began to rehabilitate the area in 2018, more than 30 companies are operating in the area, which is called a hub for the circular food production of the future. By installing rooftop solar panels covering nearly one hectare, Öresundskraft helps the property owner to become less dependent on grid energy with increasing electricity prices and ultimately contribute to Hellofresh's operations being powered by the sun's rays.
– Renewable energy is a natural choice, and this is an important part of our mission to contribute to a sustainable energy supply. The food cluster in Bjuv is a very exciting area and we look forward to our solar energy solution being put into use. Together with Soltech, we bring together our different skills to drive the green transition and we really feel that we have the power to change, says Sara Norman, business developer solar, charging and storage at Öresundskraft.
Car dealer Berner's showroom in Östersund will soon have a solar cell facade. Soltech company Fasadsystem is commissioned to install a 160 square meter mocha brown solar cell facade for the car dealer. The building-integrated solar cell facade will be installed in a southern direction and produce green electricity for the property's operation. The solar facade is expected to be operational by spring 2023.
Fasadsystem in Stenkullen became part of the Soltech group in April 2020 and is a comprehensive supplier in all types of facade installations and solar cell facades. Since joining the Soltech Group, they have been involved in designing and installing several notable solar cell facades, not least the large-scale solar cell facade in Mölnlycke Fabriker and Sweden's largest solar cell facade in Jönköping. The company has now been commissioned to install a new solar façade, this time for Berners.
The solar cell facade is to be installed at the car dealer Berner's showroom in Östersund. In total, the facade-integrated solar panels are estimated to annually produce around 15,000 kWh for the property. In addition, it will be designed in a mocha brown color, which means that it will also be aesthetically designed. Daniel Christiansen, project manager for solar cell installations at Fasadsystem, tell us about the positive values with a solar cell facade.
– It feels great to help Berners with their solar facade. We hope that this sustainability initiative will contribute to get more car dealers open to the advantages of building-integrated solar facades which, in addition to producing electricity, give the property a stylish and modern climate shell, says Daniel Christiansen, project manager at Fasadsystem.
An obvious choice for Berners
Berners was founded almost 100 years ago and is today one of Sweden's largest privately owned dealers within the Scania and Volkswagen Group with operations in the counties of Jämtland and Västernorrland. Berners has high sustainability ambitions, and the solar cell facade is part of the work to become a green car dealer.
– We are always aiming to develop and improve our properties. This solar cell facade is part of that work, and we look forward to producing our own solar energy in the future. To accelerate our sustainability work further, we are also looking at installing solar energy solutions on our roofs to meet the electrification of our vehicles, says Ante Åkerström, property manager and market strategist at Berners.
Soltech Energy Sweden AB's (publ) new share issue of SEK 228 million with preferential rights for the shareholders has been completed. In total, shares were subscribed for over SEK 270 million, and Soltech has therefore decided to also carry out an Over-allotment issue. Soltech will thus receive a total of approximately SEK 270 million before issue costs of approximately SEK 28 million. The rights issue was 100% guaranteed by a guarantee consortium composed of Swedbank. With the outcome, the guarantees will not have to be used.
CEO Stefan Ölander in a comment:
– We are humbly grateful for the great trust our shareholders have shown us in this new share issue. Despite extremely difficult external factors, the issue is oversubscribed. Now we continue our acquisition strategy, our investments in existing subsidiaries, our focus on profitability going forward and our contribution to a green energy transition.
Number of shares and Over-allotment
A total of 16,930,491 shares were subscribed with the support of subscription rights, corresponding to approximately 82 percent of the Rights issue, and 7,623,537 shares without the support of subscription rights, which means that approximately 118 percent of the issue was subscribed.
To enable an even greater investment in acquisitions and existing subsidiaries, the board has decided to issue an additional 3,797,020 shares in an Overallotment issue. This takes place at a subscription price of SEK 11 per share, which gives SEK 41,767,220 million, and on the terms stated in the prospectus regarding the rights issue, which gives approximately SEK 228 million. Through the Rights issue and the Over-allotment issue, a total of 24,554,028 shares will be issued and the Company will thereby receive approximately SEK 270 million before issue costs of approximately SEK 28 million.
Allocation in the Rights Issue
The persons who subscribed for shares with the support of subscription rights have, in connection with simultaneous payment, been allocated BTA. Notice of allocation to the persons who subscribed for shares without the support of subscription rights is expected to be distributed on September 28, 2022 by sending a settlement note. Allocation to the persons who have subscribed for shares via a trustee is expected to appear on the account around September 28, 2022. Trustee-registered shareholders will receive notification of allocation in accordance with the respective trustee's routines. Subscribed and allocated shares must be paid in cash no later than on the settlement day, October 3, 2022, in accordance with the instructions on the settlement note. Only those who receive allocation will be notified.
Allotment in the Overallotment Issue
Notice of allocation to the persons who subscribed for shares without the support of subscription rights is expected to be distributed on September 28, 2022 by sending a settlement note.
The board has decided to assign all who subscribed for shares without preference the right to allocation in the Overallotment issue.
Share capital and number of shares
After registration of the Rights issue and the Over-allotment issue with the Swedish Companies Registration Office, the Company's share capital will increase by SEK 1,227,701.4 to a total of SEK 6,416,953.45. The number of shares in the Company will then increase by a further 24,554,028 shares to a total of 128,339,069 shares.
Paid subscribed shares, BTA
Subscription of shares with and without preferential rights took place during the period 12/9 – 26/9 2022. As soon as the share capital increase has been registered with the Swedish Companies Registration Office, paid subscribed shares (BTA) in the preferential issue will be converted into new shares. Until then, trading with BTA is ongoing on the Nasdaq First North Growth Market. Trading in new shares is estimated to be able to begin on the Nasdaq First North Growth Market around week 41 of 2022. The persons allocated shares in the Over-allotment issue will not receive BTA but will receive BTA2 which will be converted into shares after the share capital increase has been registered with the Swedish Companies Registration Office. This is estimated to take place around week 41 of 2022.
Its common that Soltech companies, after being acquired, often creates business opportunities for each other. Something that is now happening when Trönninge El, which was acquired in May and became part of Provektor, has helped Stockholm-based NP Gruppen with a number of new solar energy projects in southern Sweden. The total solar energy surface for the projects is approximately 4,300 square meters and the order value for the projects amounts to just over SEK 13 million.
Since NP Gruppen became part of the Soltech Group, they have been transformed into a solar roof company that also offers solar energy solutions and have completed several solar energy projects in recent years.
Now the company will carry out several new solar energy assignments in southern Sweden with the help of Trönninge El, which in May became part of the Soltech company Provektor through an bolt on-acquisition.
Among other things, the assignments apply to about ten properties in Malmö that will have roof-mounted solar energy solutions installed. The properties are owned by a large public housing company. The houses that will receive solar installations are apartment buildings, of which one of the properties is a student residence. Marcus Juhlin, solar energy manager at NP Gruppen, talks about the importance of collaboration and is satisfied with the synergy effects created in the Group.
– The assignments are proof that alone is not strong and Trönninge El’s connections in southern Sweden has been decisive for these deals. It feels very motivating and fun that companies within the Group can open new doors for each other and complement each other’s skills in different projects. Now we look forward to jointly carrying out these solar energy projects for housing associations and property owners who have clearly realized the advantages of self-produced solar energy, says Marcus Juhlin, solar energy manager at NP Gruppen.
Soltech company Wettergrens Tak has now completed a solar energy and roof project for Riksbyggen in Örnsköldsvik. In total, there are eight houses that have received new metal roofing and 1,200 square meters of solar energy installed. The company's CEO Frank Fredriksson explains more about the project and that the company, based in Nyköping, also offers solutions nationwide.
Wettergrens Tak has been active in the industry for over 70 years and has been part of the Soltech Group since August 2021. The company is a comprehensive supplier that masters everything in roofing and works with private individuals, regions, municipalities, industries, construction companies and other businesses. Based in Nyköping, Södermanland, Södertälje and Stockholm have previously been the company's main areas, but now the company is also strengthening its presence outside Nyköping.
The project, which has now been completed, consists of re-roofing eight houses that have received new sheet metal roofs and roof-mounted solar energy installations. The total roof replacement amounted to approximately 3,300 square meters and the solar cells cover an area of approximately 1,100 square meters and the assignment was carried out for Riksbyggen. CEO Frank Fredriksson talks about the importance of being able to offer services in larger parts of the country.
– It feels great that we have finished this prestigious project and I want to thank Riksbyggen for the confidence. We have previously carried out projects for them in Östersund and now also in Örnsköldsvik, which is proof that we have good capacity to carry out roof and solar energy projects also in this region. For us, it is a strength not to be tied to a geographical area, especially when the number of requests from different counties increases, says Frank Fredriksson, CEO of Wettergrens Tak.
Soltech Energy Sweden AB (publ) has on 21 September acquired 100 percent of the shares in Takab in Jönköping AB (Takab) with entry on 3 October. The company is expected to have a turnover of approximately SEK 120 million in 2022 with good profitability. Takab has around 30 employees who work from the company's headquarter in Jönköping. The acquisition strengthens the Group's competence in roofing contracting and now the plan is to integrate solar energy into Takab's offer. The acquisition is financed entirely from own cash and with newly issued Soltech shares.
Soltech has an extensive acquisition strategy in the solar energy industry, but also in the electrical engineering, roof/sheet metal and facade industries, where the companies after being acquired are transformed when solar energy is added to the product range. Now the group acquires a prominent roofing company in Jönköping.
Takab is a family business that specializes in large, low-sloping flat roofs on large commercial properties such as logistics properties, sport centers and industrial buildings. As part of the Soltrech Group, the company will also start to offer their customers solar energy solutions.
– Takab is a well-run family business that for generations has offered high-quality roofing services and we are very happy that they have chosen to become a part of Soltech. This acquisition strengthens our position in the Jönköping region. Takab has also before worked with different companies within the Soltech Group, a proof that they will fit well into the Soltech family, says Stefan Ölander, CEO of Soltech Energy.
A family business that makes the journey towards the sun
Since the start in 1992, Takab has offered various types of roofing solutions. Everything from small steep roofs to sedum roofs, but with the main business in large flat and low-sloping roofs. It is precisely the expertise around larger roofs on such industrial properties that makes the step to offer solar energy even more natural. The company also operates in the Jönköping region, which is often referred to as one of the country's best locations for logistics properties, which creates a great demand for both large-scale roof contracting and rooftop solar energy installations.
– It is exciting that we are now part of the Soltech group. This will help us meet the growing and increased demand for solar energy and we are very much looking forward to being able to help our customers with both roofing and solar energy installations. As a part of a big solar group, we have all the conditions to take the company and our offer to the next level, says Johan Stark, CEO of Takab in Jönköping.
In an analysis carried out by Analysguiden, they write that Soltech's strong growth is largely a result of establishing a unified group of solar, electric, facade and roof companies that together can offer a complete solar energy offer. To support the explosive growth, Analysguiden believes that the rights issue that is currently being carried out is necessary for the Group to reach its goals for 2024, which is 4.7 billion in turnover with an operating margin of 8–10 percent.
Furthermore, both the financial and strategic importance of Soltech's international acquisitions of 365zon and Sud Renovables are underlined. Acquisitions that are expected to contribute roughly 2 billion in turnover until 2024 with good profitability, as well as establish Soltech in an international environment.
Soltech CEO Stefan Ölander comments on Analysguiden's conclusions.
– The solar energy industry is brighter than ever, and it feels great that Aktiespararna sees our aggressive acquisition strategy and the ongoing rights issue as the keys to coming out as winners in a market that is both growing and consolidating at a high rate. The fact that our acquisition journey is also described as incomparable strengthens us even more in our belief that we are well on our way to building a very strong Group. Now our work continues to capture even bigger market shares to contribute so that more private individuals and companies are being able to produce their own solar electricity, says Stefan Ölander.
The analysis can be read in its entirety here (in Swedish): https://www.aktiespararna.se/analysguiden/nyheter/analys-soltech-energy-explosiv-tillvaxt-och-nodvandig-kassaforstarkning
Soltech company Soltech Energy Solutions has signed an agreement with an energy company in Sweden for a large battery solution (battery park) that will contribute to stabilizing the electricity grid with opitmization and frequency regulation. The order value for the agreement amounts to approximately SEK 15 million.
Soltech Energy Solutions within the Soltech Group focus on product development and installation of advanced energy systems, energy storage and large-scale solar energy solutions such as roof solar cell installations and solar parks. The company has been commissioned to build a battery park for an energy company and this will be one of the first hybrid solutions where a larger solar park energy facility is supplemented with an large scale energy storage battery system.
Rickard Lantz, business development manager at Soltech Energy Solutions, is positive about the agreement which will contribute to balancing and supporting the local electricity grid in the area.
– The share of renewable energy is quickly increasing, which is a very positive development. Therefore it is also important to reduce the power challenge that arises when you convert the electricity system to more renewable and weather-dependent energy production such as solar- and wind power. Therefore, it feels very good that we have signed an agreement to deliver a large-scale battery storage facility that enables our customer to sell frequency services to Svenska kraftnät, something that both stabilizes the electricity grid and generates revenue, says Rickard Lantz, business development manager Soltech Energy Solution