Vestum, through subsidiary GGAL Group, acquires specialist company in glass and aluminium lots with sales of SEK 47.9m, EBITDA of SEK 5.8m and EBITA of SEK 3.8m2021-11-23
Vestum AB (publ) ("Vestum") has through subsidiary GGAL Group AB agreed to acquire 100 percent of the shares in Tannefors Glas AB ("Tannefors Glas"). The purchase price will partly be financed through payment in reverse, which will then be set off against 50,569 shares in Vestum through offset issues. This will result in a dilution of approximately 0.04%. During the last twelve months per September 2021, Tannefors Glas generated sales of SEK 47.9m with an EBITDA of SEK 5.8m and EBITA of SEK 3.8m, corresponding to an EBITDA margin of 12.0 percent and EBITA margin of 8.0 percent. About Tannefors Glas
Tannefors Glas delivers glass and aluminium products with a focus on doors, windows, facades, glass roofs, film as well as sliding and folding sections. The systems are developed and tested for maximum comfort, long service life and low maintenance need.
During the last twelve months per September 2021, Tannefors Glas generated sales of SEK 47.9m with an EBITDA of SEK 5.8m and EBITA of SEK 3.8m, corresponding to an EBITDA margin of 12.0 percent and EBITA margin of 8.0 percent.
The company has 18 employees and is headquartered in Linköping.
All figures referenced are in accordance with the IFRS standards applied by Vestum and are unaudited.
Tannefors Glas' financials are expected to be consolidated into GGAL Group from Q4 2021, provided that the indicative timetable for the completion of the acquisition can be followed.
Comments from Stefan Persson, CEO of GGAL Group:
We are very pleased to welcome Tannefors Glas to GGAL Group! With Tannefors Glas, we strengthen our geographical presence and once again demonstrate our ability to grow through acquisitions. We have great confidence in the company's CEO, Micael Westerberg, and look forward to bringing Micael and the company with us on our expansive journey, says Stefan Persson, CEO of GGAL Group.
About the transaction
The purchase price will partly be financed through payment in reverse, which will then be set off against 50,569 shares in Vestum through offset issues. This will result in a dilution of approximately 0.04%. The subscription price has been determined via a ten-day volume-weighted average price ("VWAP") in Vestum's share during the period 9 November 2021 up to and including 22 November 2021. The seller has undertaken not to sell the subscribed shares for a period of 24 months ("lock-up").
The number of outstanding shares would increase in connection with the Transaction from the existing 117,251,935 to 117,302,504 shares.
The above information on dilution and number of shares is based on previously announced offset issues.
Completion of the acquisition
The transaction is expected to be completed within approximately two weeks. In connection with the completion of the transaction, the Board, backed by an authorization of the Annual General Meeting, will make a formal decision to issue the shares in the offset issue.
Adviser
Svalner provides financial advice and Qap Legal acts as legal adviser to Vestum in connection with the acquisition. For additional information, please contact:
Conny Ryk, CEO of Vestum AB (publ)
Phone: +46 70 775 53 10
E-mail: [email protected]
The following documents can be retrieved from beQuoted
Vestum-press-release-20211123.pdf About Vestum
Vestum is a Swedish acquisition-driven company focused on acquiring and developing specialist companies within the construction services and infrastructure industries. Vestum is actively looking for high-quality companies with proven business models, strong market positions and predictable cash flows where Vestum can be involved and contribute to continued positive development.
For additional information, please visit: www.vestum.se
Vestum's share is traded under the short name VESTUM on Nasdaq First North Growth Market and the company's Certified Adviser is G&W Fondkommission: phone: +46 (0)8 503 000 50, e-mail: [email protected].
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.
| 