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    SOLT   SE0005392537

SOLTECH ENERGY SWEDEN AB (PUBL)

(SOLT)
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SolTech Energy Sweden : acquires 90.1 percent of Wettergren's Tak

08/30/2021 | 04:31am EDT

On August 30, Soltech Energy Sweden AB (publ) acquired 90.1 percent of the shares in Wettergrens Tak & Plåtslageri AB (Wettergrens) with access on September 2, 2021. The company has sales of approximately SEK 30 million and has about 20 employees based in Nyköping . The acquisition is financed entirely from own cash and with newly issued Soltech shares.

Soltech has an offensive growth strategy with acquisitions in the solar, roof, facade and electrical engineering industries. Acquired companies together create synergy effects and build a strong group with cross-border expertise. The acquisition of the roofing company Wettergrens is Soltech's 17th acquisition since the acquisition strategy began in 2019. An acquisition that further strengthens the Group's already strong position in roofing and the strategy to transform traditional companies in roofing, facade and electrical technology so that they also sell solar energy.

- This acquisition is completely in line with our acquisition strategy. Wettergrens is a very reputable roofing contractor with a strong local connection in Södermanland, which contributes to Soltech's growing presence in the Mälardalen region. We are now bringing in another 20 competent employees to the group who will be involved in adding solar cell installations in more and more of the company's contracts, says Stefan Ölander, CEO of Soltech Energy.

A company with solid industry experience
Wettergrens has been active in the industry for 70 years. The company is a comprehensive supplier that masters everything within roofs and works with private individuals, regions, municipalities, industries, construction companies and the rest of the business community. Södermanland, Södertälje and Stockholm are Wettergren's main areas, but thanks to the company's rolling roof team, several major works are also delivered in other parts of the country every year.

- For me and the whole team at Wettergrens, it is extremely inspiring to now be part of Soltech. We will continue to grow and develop our already strong business at the same time as we will consolidate a position as one of Central Sweden's leading roofing companies when it comes to solar cell installations, says Frank Fredriksson, CEO of Wettergrens.

© Modular Finance, source Nordic Press Releases

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Financials
Sales 2020 434 M 50,7 M 50,7 M
Net income 2020 -90,4 M -10,6 M -10,6 M
Net Debt 2020 735 M 85,8 M 85,8 M
P/E ratio 2020 -14,0x
Yield 2020 -
Capitalization 1 464 M 171 M 171 M
EV / Sales 2019 6,77x
EV / Sales 2020 6,21x
Nbr of Employees 180
Free-Float 100%
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Managers and Directors
Stefan Ölander Chief Executive Officer & Director
Niclas Lundin Chief Financial Officer
Anna Kinberg Batra Chairman
Mats Bertil Holmfeldt Independent Director
Hellen Wohlin Lidgard Independent Director