Investment AB Latour (publ) has, through its wholly-owned subsidiary Bemsiq AB, acquired DENT Instruments Inc (“DENT”).
DENT, established in 1988, has over 30 years of experience in designing, manufacturing, supplying, and selling products and various accessories for the metering industry. Products enables energy savings and data collection to industries such as energy service, solar energy, office & residential buildings, telecommunications, and EV charging. The company has its head office and manufacturing in Bend, Oregon (USA) and customers around the world. Total revenues in 2022 are estimated at 15 MUSD with a profit level well above Latour’s financial target.
In recent years, Bemsiq has taken a stronger position within the building automation and metering field in North America. The acquisition of DENT with their strong US base further strengthens Bemsiq’s geographical and product breadth.
"We want to give our warmest welcome to all DENT’s employees. We have been able to get to know the company well and are impressed by them and their high-quality products. The acquisition strengthens our metering business, underlines our growth strategy in North America and our ambition to expand our global market presence further” says Mikael Johnsson Albrektsson, CEO at Bemsiq.
As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group is expected to increase compared to the net debt level at the end of September 2022, to around SEK 10.6 billion, all else equal.
Göteborg, December 22, 2022
INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO
For further information, please contact:
Mikael J Albrektsson, CEO Bemsiq AB, +46 733 23 3606
Ida Saalman, Investment Director, Investment AB Latour, +46 727 22 8869
Bemsiq AB, with headquarters in Gothenburg, Sweden, has an annual turnover of SEK 1.3 billion SEK and employs about 500 persons. Bemsiq consists of a group of innovative and fast-growing companies providing products in building automation and metering and is one of five wholly-owned business areas within the Latour Group.
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 67 billion. The wholly-owned industrial operations has an annual turnover of SEK 22 billion.