SolTech Energy presents an aquisition strategy for increased growth
SolTech Energy’s board of directors had decided to actively increase the focus and input of company resources into the sales of its own products in Sweden via the implementation of an acquisition strategy. Its aim is to expand and ensure the marketing, sales and distribution of the company’s own products to retail customers.
SolTech intends to acquire companies actively engaged in the sale and installation of roofs, facades and solar-energy solutions. A business broker has been retained for the purpose of finding suitable candidates for acquisition that meet SolTech’s criteria. The immediate goal is to complete a first acquisition before the close of the year.
Every year, approximately 30,000 roof replacements are carried out on existing single-family homes, amounting to a retail worth of circa 5 (five) billion SEK or 500 MEUR. Via these planned acquisitions, SolTech Energy – on a concern level – will come to participate in these sales and installation channels and the opportunity to market its integrated products, which function as both a new roof and a solar cell. In addition to this market, must be added all the apartment cooperatives and public buildings – and, not least, the entire facade market.
SolTech has, from its very inception, developed esthetic and building integrated solar energy products. Thus far, it has primarily been detached solar cell units that have dominated the market. But today, virtually everyone in the solar energy field foresees the day where the market for integrated solar cells will soon be capturing a significantly greater share of the overall market
In taking this first step, SolTech will be focusing on the Swedish market, but does not rule out venturing into other markets in the future. SolTech could and would be able to increase sales organically but, given the current market situation with particularly strong growth for solar energy, our judgment is that acquisition is a better alternative for SolTech and its shareholders.
CEO Stefan Ölander comments:
– Thus far, we have been purely a product supplier for the Swedish market, In order to hasten the shift to the solar cells of the future, we now choose to acquire companies doing business in areas where our products will have a direct channel out and onto to the retail market. Solar energy, roof and facade companies – all are potential candidates. We look forward to adding competence, motivated entrepreneurs and sales channels to significantly increase growth and profit within the SolTech concern.
The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 25 October 2018, 07:00 CET.
SolTech Energy in brief SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity produced. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com