Sdiptech divests Aufzüge Friedl GmbH and ST Lift GmbH
Press release
May 14, 2021, 15:30
Sdiptech divests Aufzüge Friedl GmbH and ST Lift GmbH
Sdiptech AB (publ) has today entered into an agreement to divest its elevator business in Austria consisting of Aufzüge Friedl GmbH and ST Lift GmbH (together Aufzüge Friedl) to founder and minority owner Jürgen Friedl. The purchase price for Sdiptech's holding of 51 percent amounts to EUR 6 million on a cash and debt-free basis.
Sdiptech's Austrian elevator operations Aufzüge Friedl specialises in the renovation, modernisation and service of elevators in Vienna. The business units are part of Sdiptech's business area Property Technical Services and currently have annual sales of approximately EUR 8 million and an operating profit (EBIT) of approximately EUR 1 million, of which Sdiptech's share is 51 percent. The sale is conducted at an EV/EBIT multiple of approximately 12.
"The divestment is in line with Sdiptech’s set direction to concentrate growth efforts to the Water & Energy and Special Infrastructure Solutions business areas. After the transaction, Croatian Metus is Sdiptech's remaining elevator business. With a unique service offering to global elevator companies, a proprietary product and production and a local service business, Metus has a strong market position. Sdiptech therefore does not expect any further changes in the elevator business”, says Jakob Holm, CEO of Sdiptech.
The divestment is expected to be completed within 30 days.
For additional information, please contact:
Jakob Holm, VD, +46 761 61 21 91, jakob.holm@sdiptech.com
Bengt Lejdström, CFO, +46 702 74 22 00, bengt.lejdstrom@sdiptech.com
My Lundberg, IR & Sustainability Manager, +46 703 61 18 10, my.lundberg@sdiptech.com
Sdiptech's common share of series B share is traded under the short name SDIP B with ISIN code SE0003756758. Sdiptech AB's preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348. Sdiptech AB's Certified Adviser at Nasdaq First North Premier Growth Market is Erik Penser Bank, +468-463 83 00, certifiedadviser@penser.se. Further information is available on the company's website: www.sdiptech.com
Sdiptech AB is a technology group with a primary focus on infrastructure segments critical to well-functioning societies and to welfare, e.g. water & sanitation, power & energy, transportation, energy efficiency and air climate. As part of our offering in urban areas, we also provide niched technical services for buildings and real-estate such as renovation of elevators and roofs. The company has approximately SEK 2,000 million in sales and is based in Stockholm.
Sdiptech AB (publ) is required to disclose this information pursuant to EU Market Use Regulation 596/2014.The company is based in Stockholm. The information was provided by the above contact persons for publication May 14, 2021 at 15:30 CEST.
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