Press release
8 June 2017, 19:00
Sdiptech completes acquisition of two companies in the hissektorn in Austria
Sdiptech completed per today’s date the acquisition of 51% of the two austrian companies ST Liftsystems GmbH Aufzüge Friedl GmbH, both operating in the hissektorn. The agreement on the acquisition was entered into originally on 9 march 2017. Sdiptech have a future option to acquire the remaining 49% of both companies.
ST Liftsystems manufactures elevators with a compact design that makes them possible to install in narrow spaces in existing properties as well as in new construction. The business model is designed to cost-effectively design and package lättmonterade lifts to installationsfirmor on a global basis.
Aufzüge Friedl perform the installation and service of lifts and escalators in Vienna with the surrounding areas.
Jacob Holm, CEO Sdiptech AB, comments:
“With the acquisition of ST Liftsystems, we get access to a very attractive product for our existing hissverksamhet in the Stockholm area, in addition to, of course, we see great potential for international sales to independent operators. By Aufzüge Friedl, we are expanding our hisserviceverksamhet to Vienna, which, like Stockholm, is a fast-growing capital in line with our long-term strategy.”
Jürgen Friedl, founder Aufzüge Friedl and ST Liftsystems, said:
“I am very happy to get Sdiptech as a partner and sees great opportunities for the ST Liftsystems, which today is ready to take the step into serial production, to grow by Sdiptechs operations in Sweden and internationally.”
Including the acquisition, Sdiptechs total revenue on an annual basis, approximately reached 1.015 Million and EBITA year on year to approximately € 157 Million. For companies that have been in the group’s possession for less than a year, the latest annual financial statements have been added to the group’s latest annual accounts. The purchase price for 51 percent of the both companies amount to eur 6.5 MILLION. Future profits in the companies are distributed according to a tilläggsköpeskillingsmodell which will run for five years. The option in respect of the seller’s remaining 49 percent run over the last ten years. Total estimated Sdiptech to the present value of all future payments is approximately 40 M, which will be taken up as a liability in the group accounts.
Sdiptech AB’s ordinary shares of series B are traded under the ticker symbol SDIP (B) with the ISIN-code SE0003756758. Sdiptech AB:s preference shares are traded under the ticker symbol SDIP PREF with ISIN-code SE0006758348.
Sdiptech AB’s Certified Adviser on Nasdaq First North Stockholm is Erik Penser Bank. More information is available on the company’s website: www.sdiptech.com
For further information, please contact:
Carl Johan Åkesson, CFO, +46 708 30 70 57, cj.akesson@sdiptech.com
Jacob Holm, CEO, +46 761 61 21 91, jakob.holm@sdiptech.com
Sdiptech AB is a technology group with a main focus on urban infrastructures. The group provides deep niche services and products to both build out that to renovate the fast-growing cities. The company has its registered office in Stockholm.
The information in this press release is such that Sdiptech AB (publ) is obliged to publish under the EU marknadsmissbruksförordning (EU) no 596/2014. The information was submitted, through the above contacts in the government, for publication on 8 June 2017, there is a 19:00.
170608 – Aufzuge ST lift system EN
