Press release 31 October 2017, 17:45
Sdiptech acquires Tello Service Partner AB
As of today, Sdiptech has acquired all shares in Tello Service Partner AB.
Tello Service Partner specializes in roof repainting and installation of personal protection on roofs. Tello will be part of Sdiptech's business area Tailored Installation. The company has a broken financial year, and during the financial year 2016/2017 net sales amounted to approximately SEK 32 million.
Jakob Holm, CEO, Sdiptech, comments:
"With Tello, we are strengthening our renovation business with a niche service company with strong presence in the Stockholm region. The company's focus on the renovation market creates non-cyclical revenue over time as exposure to new construction is limited. By introducing Tello to our existing customer base, the company's operations can grow further."
Daniel Bergman, CEO, Tello Service Partner, comments:
"We are very excited to become part of Sdiptech and see great opportunities for Tello Service Partner - opportunities that can be realized with the Group's resources and knowledge. With Sdiptech's help, we can broaden our customer base in the property segment and gain support for the continued development of the business."
Including the acquisition, Sdiptech's total annual revenue amounts to approximately SEK 1.105 million, with an annual EBITA of approximately SEK 152 million. For companies that have been part of the Group for less than one year, the most recent annual accounts have been added to the Group's earnings from other companies, based on their outcome in the past four quarters. The total purchase consideration, including future performance-based considerations over a period of five years, will amount to SEK 69.3 million at most. In connection with today's acquisition, SEK 30.9 million was paid in cash, while the remaining amount will be recognized as a liability in the Group's consolidated accounts.
Sdiptech AB's ordinary Series B share is traded under the short name SDIP B with ISIN code SE0003756758. Sdiptech AB's preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348. Sdiptech AB's Certified Adviser at Nasdaq First North Stockholm is Erik Penser Bank. Further information is available on the company's website: www.sdiptech.com
For additional information, please contact:
Carl Johan Åkesson, CFO, +46 708 30 70 57, cj.akesson@sdiptech.com Jakob Holm, CEO, +46 761 61 21 91, jakob.holm@sdiptech.com Sdiptech AB is a technology group with a primary focus on urban infrastructures. The Group offers deeply niched services and products for both expanding and renovating rapidly growing metropolitan areas. The company is based in Stockholm.
Sdiptech AB (publ) is required to disclose this information pursuant to EU Market Use Regulation 596/2014. The information was provided by the above contact persons for publication on 31 October 2017 at 17:45 CET.
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