Addtech Energy, a business area in the Addtech Group, has reported that the compan signed an agreement to acquire 100 percent of the shares outstanding in Allied Insulators Ltd (“Allied Insulators”).
Allied Insulators is a leading supplier of equipment and components for electrical distribution- and transmission lines and sub-stations in the UK. The company also exports, mainly to the Middle East and New Zealand.
Allied Insulators has a long history and is a well-established supplier to network owners in selected core markets. The company is headquartered in Tunstall, Staffordshire, has 15 employees and annual sales of approximately GBP 6 million.
Hans Andersén, Business Area Manager Addtech Energy says
“The acquisition of Allied Insulators further strengthens our position as a leading player in the field of electric transmission lines. Allied Insulators complements our operations in an excellent way and establishes us as a significant supplier of overhead line material to network owners outside the Nordic region,”.
The closing will take place today and is estimated to have a marginally positive effect on Addtech’s earnings per share during the current financial year.