The listed Estonian electrical equipment maker Harju Elekter for 3.6 million euros has signed a contract to acquire Swedish sales and technical solutions company Sebab AB and its subsidiary Grytek AB, a manufacturer of pre-fabricated technical buildings.
The acquired companies will initially continue to use their names and trademarks, operating as full subsidiaries of the group. Harju Elekter is acquiring the shares from the company Tnaa AB for 3.6 million euros, of which 3 million euros will be paid on January 8, 2018, Harju Elekter told the stock exchange.
Harju Elekter Group has been active on the Swedish market since 2010, delivering substations and industrial automation solutions to Swedish clients. As a result of this transaction, new prospective market segments will be entered in Sweden, and the group’s product portfolio will be expanded.
Concurrently, Harju Elekter’s capability to offer its Swedish clients more complete technical solutions and “turnkey” projects as well as service support will increase.
Andres Allikmae, Tiit Atso and Thomas Andersson were appointed as members of the management board of SEBAB AB as well as Grytek AB. Thomas Andersson will continue as a CEO of SEBAB AB and Grytek AB.
