19 February 2021, 17:45
Sdiptech sells the elevator business in Sweden
Sdiptech AB (publ) has entered into an agreement with TK Elevator Sweden AB (formerly: thyssenkrupp Elevator) to sell the Swedish elevator business in the Property Technical Services business area of Sdiptech. The purchase price totals SEK 233 million on a cash and debt free basis, of which Sdiptech shares in companies are valued at SEK 154 million.
Sdiptech’s Swedish elevators business specializes in the renovation, modernization and maintenance of elevators in Stockholm. The business units were part of Sdiptech’s Real Estate Technical Services business line and in FY2020 sales were approximately SEK 300 million and operating profit (EBIT) approximately SEK 15 million. Swedish crowns.
“The sale is in line with the direction defined by Sdiptech to focus its growth efforts on the Water and Energy and Special Infrastructure Solutions business sectors. The transaction has been prepared in agreement with the founders and operations management of Swedish elevators.With TK Elevator as one of the world’s leading elevator group, companies get a good new home, a long-term owner with extensive industrial expertise and experience in the elevator business, says Jakob Holm, CEO of Sdiptech.
The transaction in brief
- The purchase price of S: t Eriks Hiss AB, Stockholms Hiss- & Elteknik AB, KM Hiss & Portservice AB, Hisspartner i Stockholm AB and ManKan Hiss AB totals SEK 233 million on a cashless and non-cash basis. debt.
- Of which Sdiptech holds 51% of the shares of S: t Eriks Hiss AB, KM Hiss & Portservice AB and Hisspartner i Stockholm AB, and
- 95 percent of the shares of Stockholms Hiss- & Elteknik AB and ManKan Hiss AB.
- The divestment is expected to be completed after approval by the Swedish Competition Authority in April 2020.
- Information regarding the completion of the sale will be announced as soon as the transaction is completed.
For more information, please contact:
Jakob Holm, CEO, +46 761 61 21 91,[email protected]
The ordinary share of Series B shares of Sdiptech is traded under the short name SDIP B with ISIN code SE0003756758. The preferred shares of Sdiptech AB are traded under the abbreviated name SDIP PREF with the ISIN code SE0006758348. Sdiptech AB’s Certified Advisor at Nasdaq First North Premier Growth Market is Erik Penser Bank, + 468-463 83 00, [email protected] Further information is available on the company’s website: www.sdiptech.com
Sdiptech AB is a technology group that mainly focuses on infrastructure segments essential to the smooth running of societies and well-being, for example water and sanitation, electricity and energy, transport, l energy efficiency and the air climate. As part of our offering in urban areas, we also provide niche technical services for buildings and real estate such as elevator and roof renovations. The company has a turnover of around SEK 2,000 million and is based in Stockholm.
Sdiptech AB (publ) is obliged to disclose this information in accordance with Regulation 596/2014 on the use of the EU market. The company is based in Stockholm. The information has been provided by the above contact persons for publication on February 19, 2021 at 5:45 p.m. CET.
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