Soltech buying Swedish solar installer MEASOL

Solar roofing tiles provider Soltech Energy Sweden AB (FRA:7ST) has signed a deal to buy a 60% stake in sector player Miljo & Energi Ansvar Sverige AB (MEASOL).

Stockholm-based MEASOL is a solar installer with eight employees that has long been a partner of the Soltech Group, the latter said in a statement. This year, the business is seen to report sales of SEK 15 million (USD 1.7m/EUR 1.45m) with a positive operating profit.

Soltech added that its plan is to gradually and organically expand the MEASOL business, while maintaining a good profit margin. The target is reaching SEK 50 million in 2023.

The buyer noted that there will be synergy effects recognised within the group from the joint purchasing, warehousing and logistics, marketing, HR, finance and administration. This will positively impact earnings.

With the purchase, Soltech will beef up its expertise in electricity and installation, and in building new business areas in the segments of charging and individual metering and charging (IMD).

The deal gives Soltech an option to buy the remaining 40% interest in the firm in 2024. The initial cash-and-stock transaction will become effective on September 1, 2020.

(SEK 1.0 = USD 1.146/EUR 0.970)

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