Investment AB Latour (publ) has, through its subsidiary Bemsiq AB, signed an agreement to acquire S+S Regeltechnik GmbH, a company based in Nürnberg in Northern Bavaria, Germany.
S+S Regeltechnik is a pan‐European leader in advanced sensor technology for measurement and control in facility automation and mechanical engineering. The acquisition further strengthens Bemsiq’s product offering towards the building automation segment and expands the group’s geographical reach with a strong base in Germany. S+S Regeltechnik’s product range includes a holistic offering of field devices and room controllers for building automation and products sold are based on own design and proprietary technology. The company has 65 employees and annual revenue of EUR 16.3 million in 2018 with a profit level well over Latour’s financial target. The seller is Mr. Tino Schulze through his family's holding company. Mr. Schulze is also the CEO of the company.
“I am very happy to welcome S+S Regeltechnik to the Bemsiq group of companies”, says Mikael J Albrektsson, CEO for Bemsiq. “We have known the company for many years and their wide range and high product quality is very appreciated by system integrators and partners in Germany and internationally. The acquisition is an important step in our ambition to grow on the international market for building automation and creates a strong presence in Germany for Bemsiq.”
“I see Bemsiq and Latour as very good long‐term owners of S+S Regeltechnik”, says Mr. Tino Schulze, CEO and former owner of S+S Regeltechnik. “I look forward to continue to develop and grow S+S Regeltechnik alongside the other companies in the Bemsiq group. Being a member of the Bemsiq group opens new growth and development possibilities for S+S Regeltechnik.”
The transaction will be completed during January 2020, subject to certain conditions that must be fulfilled before that. As an effect of the acquisition the net debt of Investment AB Latour is expected to increase compared to the net debt level at the end of June 2019 as communicated in the Interim report January–June 2019, to around SEK 5.1 billion, all else equal.
On October 22nd 2019, Investment AB Latour, through its wholly‐owned subsidiary Bemsiq AB, signed an agreement to acquire S+S Regeltechnik GmbH, a company based in Nürnberg in Northern Bavaria, Germany. All closing conditions have now been fulfilled and the transaction has been completed as of January 22nd, 2020.