Addtech Acquires Powermec AB

November 15, 2015 by Jeff Shepard

Addtech Power Solutions, a business area in the Addtech Group signed an agreement to acquire all shares outstanding in Powermec AB. The acquisition is estimated to have a marginally positive effect on Addtech's earnings per share during the current financial year. Powermec develops and markets customized solutions within power supplies, electrical motors and electro mechanical components, primarily to OEM customers. Powermec has own establishments in Sweden, Norway, Denmark and Poland and is also exporting to other markets.

Powermec will very effectively complement Addtech's current operations in the business unit Storage & Power. The Company has 26 employees and sales of around SEK 150 million. ”With Powermec we complement our strong position within customized battery packs with appropriate power supplies. With Powermec group, we also get a great platform to further expand our business activities in this field outside the Nordic region”, says Niklas Stenberg, Business Area Manager for Power Solutions.

”We have created a structured and prosperous Company group and been able to take a considerable market share in a mature market. Together with Addtech, we will now continue our expansion plan”, says Mikael Häggblom and Thomas Holmer, founders of Powermec AB.