On 25 October Indutrade signed an agreement to acquire all of the shares in Thermo Electric Instrumentation B.V. (http://www.thermo-electric.nl/).
Established in 1968, the Dutch company Thermo Electric develops, manufactures, markets and calibrates temperature sensors. The company has developed a wide range of temperature sensors that are customised to customers’ specific needs and requirements. In addition to its own manufactured products, Thermo Electric also offers instruments from other leading manufacturers. Customers are mainly found in Europe and include energy companies, contracting companies and OEM manufacturers, among others. Thermo Electric has 55 employees and annual sales of approximately EUR 11 million.
The closing takes place today and Thermo Electric will be a subsidiary of Indutrade’s Swedish company Pentronic AB, within the business area Measurement & Sensor Technology. Pentronic is one of Scandinavia’s leading manufacturer of temperature sensors, and this add-on acquisition of Thermo Electric complements and strengthens Indutrade’s cluster of companies within this niche.
“We feel very positive about this opportunity to use the knowledge and expertise that exist in the Group to leverage further growth and development opportunities,” comments Bo Annvik, President and CEO of Indutrade.
The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.
Stockholm, 25 October 2018
INDUTRADE AB (publ)
For further information, please contact:
Bo Annvik, President and CEO
Phone +46 8 703 03 00