Absolent Group makes sixth acquisition of the yearThe clean tech company Absolent Group AB, specialized in the cleaning of contaminated process air, has made its sixth acquisition of 2019 by acquiring industrial vacuum cleaner manufacturer Kerstar Ltd, England, through its subsidiary Filtermist International Ltd. Established in 1960, Kerstar produces a range of cleaners including ATEX-accredited machines for use in explosion risk environments. The company manufactures its products in Northampton and exports to more than 19 countries worldwide through a network of approved distributors. Kerstar has an annual turnover of 30 MSEK and an adjusted EBITDA margin of 18%. The purchase price is 26 MSEK.
UK customers consist of resellers and end-users in a range of industrial sectors including food production, engineering, aerospace, power generation, local authorities and cleaning companies. The company also provides a comprehensive aftersales service throughout the UK which has resulted in a loyal customer base - an approach which perfectly aligns with Filtermist's UK operation.
"The opportunity to add Kerstar to our portfolio offered a very interesting proposition for Filtermist, Kerstar products are used by a number of our existing customers in a range of industrial sectors so are a perfect addition to our product offering. They are also used in some markets we're not currently active in, so offer a good opportunity to cross-sell products and services from our other business units. Further, the company already has established routes to global markets, and we will be expanding this side of the business using our own channels and exporting experience." says Filtermist International CEO James Stansfield.
Kerstar will immediately be consolidated into Absolent Group. 2019-07-16 Contact:
Axel Berntsson, CEO Absolent Group, +46 510 48 40 00
The Absolent Group share is traded on Nasdaq First North. Company Certified Advisor is Erik Penser Bank AB. Tel +46 8-463 83 00. E-mail: [email protected]
The following documents can be retrieved from beQuoted
Absolent Group Pressrelease 2019-07-16.pdf
If you want to open the text in your webbrowser
click here
______________________________________________________
This information was sent by beQuoted
If you want more information, please go to www.beQuoted.com
To change your subscription, please inform [email protected] beQuoted Press är en service till Dig som är intresserad av finansiell information. Med beQuoted Press underlättas företagens finansiella kommunikation till Dig och till nyhetsbyråer, aktieägare, placeringsrådgivare och andra intressenter på aktiemarknaden.
Vi hoppas att Du uppskattar denna service.
| 