20 April 2021

Soltech Energy acquires 100% of Rams El

On April 20, Soltech Energy Sweden AB (publ) acquired 100 percent of the shares in Rams El AB with access on May 3, 2021. The company has sales of approximately SEK 70 million and 30 employees based in Angered. The plan now, together with Soltech, is to integrate solar energy into the product range and increase both sales and earnings. The acquisition means that the Soltech Group further strengthens its offering in electrical engineering and installation linked to solar energy, charging and storage. The acquisition of Rams El is financed entirely from its own cash and with newly issued Soltech shares. Rams El is expected to contribute approximately SEK 46 million in sales during 2021 (8 months) with a positive result.

Soltech has an offensive growth strategy with acquisitions in the solar, roof, facade and electrical engineering industries. Together, these companies will create synergy effects and build a strong group with cross-border expertise. As part of the growth strategy, Soltech has now acquired its second company in the electrical engineering industry, which will strengthen Soltech's positioning as a partner in electrification, solar energy and charging and storage infrastructure.

– We are very pleased to welcome Rams El to Soltech, which will be our second acquisition in the electrical engineering industry. It is a well-known company in a growing region whose corporate culture is permeated by long-termism and professionalism, something that is completely in line with our values. This means that we are even more equipped for an electrified future and to offer our customers a powerful solar energy group with the capacity to take responsibility for the entire value chain, says Stefan Ölander, CEO of Soltech Energy.

Established player in the Gothenburg area
Rams El was founded in 1993 and has since had a successful history and specializes in, among other things, electrical engineering, telecommunications and network installations and service work. The company's customers are found in both the public and private sectors, where the projects often consist of hospitals, industries, schools and commercial properties. Now the company is adding solar energy to its competencies when joining the Soltech Group.

– That we now become part of Soltech is something we look forward to. Soltech is the ultimate owner as the demand for expertise in solar technology grows daily. The fact that we can now add solar energy to our core business will create positive rings on the water, for both customers and employees but also in the industry. We are ready to take the step from being more of a traditional electrical engineering company to now also becoming a solar technology company and it is a very exciting journey that starts today, says Johan Adelbjer, CEO of Rams El.