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Sdiptech AB (publ) - Sdiptech acquires Temperature Electronics and TEL UK

Press release
25 March 2022, 08:30

Sdiptech acquires Temperature Electronics and TEL UK

Sdiptech AB (publ) has acquired 91 percent of the shares in Temperature Electronics Ltd and TEL UK Ltd (TEL), specialising in airflow controls and monitors for laboratories that can reduce energy usage by up to 85 percent. TEL has an annual turnover of GBP 5.2 million, with good profitability.

TEL has over 50 years of experience in specialising in design and manufacture of electronic airflow monitors and controls. TEL airflow monitors and controls are operating in thousands of laboratories across the world, ensuring a safe working environment for laboratory personnel. The fume cupboard airflow- and room controllers also help customers to reduce the energy usage by up to 85 percent, as well as operating costs.
With a growing need for environmentally friendly solutions, TEL’s product range and services are developed to meet this demand, introducing energy saving products for new and existing laboratories, and other industrial working environments.

“We are delighted to welcome TEL to the Sdiptech group. TEL’s airflow- and room controllers (VAV) can not only decrease customers’ carbon footprint by offering energy efficiency solutions. The products also provide a safe working environment and clean air for laboratory workers that are exposed to potentially hazardous fumes and substances. The product quality, reliability and technical excellence is supported by technical back-up and support. We look forward to continuing to develop the business further together with the talented team at TEL”, says Anders Mattson, Head of Special Infrastructure Solutions at Sdiptech.

“We are very happy to become part of Sdiptech, whose vision to be a driving force towards sustainable societies goes in line with ours. Sdiptech’s knowledge within both air and climate control, as well as BMS* are highly valued, and is another reason why we believe this is a great fit for us in our further development. We are looking forward to working with the Sdiptech team and are confident that we together can continue our progress towards being world leaders in airflow controls and monitors”, says Richard Eady, Founder and CEO at TEL.

TEL is Sdiptech’s tenth business unit in the UK and will be included in the business area Special Infrastructure Solutions as of March 2022. More information about TEL is available on the company's website: https://tel-uk.com/.

For additional information, please contact:

Jakob Holm, CEO, +46 761 61 21 91, jakob.holm@sdiptech.com   
Bengt Lejdström, CFO, +46 702 74 22 00, bengt.lejdstrom@sdiptech.com  

The information was provided by the above contact persons for publication 25 March 2022 at 08:30 CET.

Sdiptech’s common shares of series B are traded on Nasdaq Stockholm under the short name SDIP B with ISIN code SE0003756758. Sdiptech’s preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348.
Further information is available on the company's website: www.sdiptech.com

Sdiptech is a technology group that acquires and develops market-leading niche operations that contribute to creating more sustainable, efficient and safe societies. Sdiptech has approximately SEK 3,000 million in sales and is based in Stockholm.

*Building Management System

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Source: GlobeNewswire
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