1515
Annons
Vestum acquires specialist company with sales of SEK 83.6m, EBITDA of SEK 8.3m and EBITA of SEK 6.3m

2021-11-02
Vestum AB (publ) ("Vestum") has agreed to acquire 100 percent of the shares in Amsler Hiss AB ("Amsler Hiss"). The purchase price will partly be financed through payment in reverse, which will then be set off against 91,540 shares in Vestum through offset issues. This will result in a dilution of approximately 0.1%. During the last twelve months per June 2021, Amsler Hiss generated sales of SEK 83.6m with an EBITDA of SEK 8.3m and EBITA of SEK 6.3m, corresponding to an EBITDA margin of 9.9 percent and EBITA margin of 7.6 percent.

VESTUM ACQUIRES SPECIALIST COMPANY WITH SALES OF SEK 83.6M, EBITDA OF SEK 8.3M AND EBITA OF SEK 6.3M

2021-11-02
Vestum AB (publ) ("Vestum") has agreed to acquire 100 percent of the shares in Amsler Hiss AB ("Amsler Hiss"). The purchase price will partly be financed through payment in reverse, which will then be set off against 91,540 shares in Vestum through offset issues. This will result in a dilution of approximately 0.1%. During the last twelve months per June 2021, Amsler Hiss generated sales of SEK 83.6m with an EBITDA of SEK 8.3m and EBITA of SEK 6.3m, corresponding to an EBITDA margin of 9.9 percent and EBITA margin of 7.6 percent.

About Amsler Hiss
Amsler Hiss was founded in 1996 and is a full-service provider in the elevator industry. The company performs new installations, conversions as well as repairs and service of all kinds of elevators. Rebuilding and new assembly make up the largest part of the business.

The company is active in Stockholm and works mainly with property owners, tenant-owner associations, and the public sector.

During the last twelve months per June 2021, Amsler Hiss generated sales of SEK 83.6m with an EBITDA of SEK 8.3m and EBITA of SEK 6.3m, corresponding to an EBITDA margin of 9.9 percent and EBITA margin of 7.6 percent.

Amsler Hiss has 38 employees and is headquartered in Bandhagen.

All figures referenced are in accordance with the IFRS standards applied by Vestum and are unaudited.

Amsler Hiss' financials are expected to be consolidated into Vestum from Q4 2021, provided that the indicative timetable for the completion of the acquisition can be followed

Comments from Vestum's CEO Conny Ryk:

We are happy to announce the welcoming of Amsler Hiss to Vestum! The company has been on the market for 25 years and has with its broad expertise continuously delivered quality services in the elevator industry. The company's founder and CEO, Peter Amlser, will continue to run the business, says Conny Ryk, CEO of Vestum.

About the acquisition
The purchase price will partly be financed through payment in reverse, which will then be set off against 91,540 shares in Vestum through offset issues. This will result in a dilution of approximately 0.1%. The subscription price has been determined via a ten-day volume-weighted average price ("VWAP") in Vestum's share during the period 19 October 2021 up to and including 1 November 2021. The sellers have undertaken not to sell the subscribed shares for a period of 24 months ("lock-up").

The number of outstanding shares would increase in connection with the acquisition from the existing 116,993,341 to 117,084,881 shares.

The above information on dilution and number of shares is based on previously announced offset issues.

Completion of the acquisition
The acquisition is expected to be completed within approximately three weeks. In connection with the completion of the acquisition, the Board, backed by an authorization of the Annual General Meeting, will make a formal decision to issue the shares in the offset issue.

Adviser
Svalner provides financial advice and Cirio Advokatbyrå acts as legal adviser to Vestum in connection with the acquisition.

For additional information, please contact:
Conny Ryk, CEO of Vestum AB (publ)
Phone: +46 70 775 53 10
E-mail: conny.ryk@vestum.se

The following documents can be retrieved from beQuoted
Vestum-press-release-20211102.pdf

About Vestum
Vestum is a Swedish acquisition-driven company focused on acquiring and developing specialist companies within the construction services and infrastructure industries. Vestum is actively looking for high-quality companies with proven business models, strong market positions and predictable cash flows where Vestum can be involved and contribute to continued positive development.

For additional information, please visit: www.vestum.se

Vestum's share is traded under the short name VESTUM on Nasdaq First North Growth Market and the company's Certified Adviser is G&W Fondkommission: phone: +46 (0)8 503 000 50, e-mail: ca@gwkapital.se.

Source: beQuoted
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