Investment AB Latour (publ) has, through its subsidiary Bemsiq AB, signed an agreement to acquire S+S Regeltechnik GmbH, a company based in Nürnberg in Northern Bavaria, Germany. S+S Regeltechnik is a pan-European leader in advanced sensor technology for measurement and control in facility automation and mechanical engineering. The acquisition further strengthens Bemsiq’s product offering towards the building automation segment and expands the group’s geographical reach with a strong base in Germany.
S+S Regeltechnik’s product range includes a holistic offering of field devices and room controllers for building automation and products sold are based on own design and proprietary technology. The company has 65 employees and annual revenue of EUR 16.3 million in 2018 with a profit level well over Latour’s financial target. The seller is Mr. Tino Schulze through his family’s holding company. Mr. Schulze is also the CEO of the company.
“I am very happy to welcome S+S Regeltechnik to the Bemsiq group of companies”, says Mikael J Albrektsson, CEO for Bemsiq. “We have known the company for many years and their wide range and high product quality is very appreciated by system integrators and partners in Germany and internationally. The acquisition is an important step in our ambition to grow on the international market for building automation and creates a strong presence in Germany for Bemsiq.”
“I see Bemsiq and Latour as very good long-term owners of S+S Regeltechnik”, says Mr. Tino Schulze, CEO and former owner of S+S Regeltechnik. “I look forward to continue to develop and grow S+S Regeltechnik alongside the other companies in the Bemsiq group. Being a member of the Bemsiq group opens new growth and development possibilities for S+S Regeltechnik.”
The transaction will be completed during January 2020, subject to certain conditions that must be fulfilled before that. As an effect of the acquisition the net debt of Investment AB Latour is expected to increase compared to the net debt level at the end of June 2019 as communicated in the Interim report January – June 2019, to around SEK 5.1 billion, all else equal.
Göteborg, 22 October, 2019
INVESTMENT AB LATOUR (PUBL)
President and CEO
For further information, please contact:
Johan Hjertonsson, President and CEO Investment AB Latour +46 702 29 77 93
Björn Lenander, CEO Latour Industries AB, +46 708 19 47 36
Mikael J Albrektsson, CEO Bemsiq AB, +46 733 23 36 06
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 60 billion. The wholly-owned industrial operations have an annual turnover of about SEK 12 billion.