Soltech Energy acquires 60 percent of the shares in Miljö & Energi Ansvar Sverige AB
On 27 August 2020, Soltech Energy Sweden AB (publ) signed an agreement to acquire 60 percent of the shares in the solar energy company Miljö & Energi Ansvar Sverige AB (MEASOL), with access on 1 September 2020. Soltech has an option to acquire the remaining 40 percent of the shares in 2024. MEASOL is headquartered in Stockholm and has eight employees and is expected to have sales of SEK 15 million in 2020 with a positive operating profit. The acquisition of MEASOL is an investment in strengthening the Group's expertise in electricity and installation and in building new business areas in the very fast-growing segments charging and IMD (individual metering and charging).
MEASOL has long been a partner of the Soltech Group and the plan is to gradually expand the business, while maintaining a good profit margin, from current levels to approximately SEK 50 million in 2023. The increase in business volume is expected to come from organic growth in combination with MEASOL adding charging and IMD to its product and service offering. In addition, Soltech expects that synergy effects within the Group in terms of joint purchasing, warehousing & logistics, marketing, HR, finance and administration will have a positive effect on earnings. The acquisition of MEASOL is financed entirely from its own cash and with newly issued shares in Soltech Energy.
CEO Stefan Ölander in a comment:
– We are very pleased to start the autumn with the acquisition of MEASOL, which stands for competence and quality. We deliver on our acquisition strategy while broadening our offering.
Marcus Nylund, CEO of Environment & Energy Responsibility Sverige AB in a comment:
– It feels completely right to join the Soltech family where there is both competence, drive, resources and synergies that we will now benefit from in our continued development.
For more information contact:
Stefan Ölander, CEO Soltech Energy Sweden AB (publ) Tel: 070-739 80 00. Email: stefan.olander@soltechenergy.com.
Briefly about Soltech Energy Sweden AB (publ)
Soltech is a complete supplier that develops, sells, installs and optimizes solar energy solutions for our customers' needs. The group includes the subsidiaries Advanced Soltech Sweden AB (publ) where the Chinese investment is conducted, Soltech Sales & Support, NP-Gruppen, Swede Energy Power Solutions, Merasol, Soldags, Takorama and Fasadsystem. Soltech Energy Sweden AB (publ), is traded on Nasdaq First North Growth Market under the short name SOLT and has approximately 35,000 shareholders. The company's Certified Adviser is Erik Penser Bank. Phone: 08-463 83 00. Email: certifiedadviser@penser.se. For more information see: www.soltechenergy.com