Swedish technology group Indutrade is set to buy Finnish geospatial solutions firm Geotrim for an undisclosed sum, marking its third acquisition of 2012.
Geotrim, which posts annual sales of around SKr 100m (US$15m), provides global navigation satellite…
Swedish technology group Indutrade is set to buy Finnish geospatial solutions firm Geotrim for an undisclosed sum, marking its third acquisition of 2012.
Geotrim, which posts annual sales of around SKr 100m (US$15m), provides global navigation satellite system solutions to customers in segments ranging from Finland’s public sector to its energy industry.
According to Indutrade CEO Johnny Alvarsson, the deal builds on the acquisitions the group has already made in the control and measurement technology sector.
“Since our first acquisition in this segment in 2005 we have added businesses which today have combined annual sales of approximately SKr 750m (US$114m),” said Alvarsson
On 30 January, Indutrade announced an agreement to acquire all the shares of Sweden’s Dasa Control Systems, which supplies proprietary advanced control and communication systems for heavy vehicles, and posts annual sales of SKr 50m (US$7.7m). Before that, on 23 January, Indutrade unveiled plans to acquire another Swedish company, Rostfria VA-System i Storfors, which manufactures corrosion-resistant pump stations and pipe systems, and posts annual sales of SKr 15m (US$2m).
In total, Indutrade has acquired more than 90 companies in the last decade. The group describes itself as a long-term owner, with a focus on niche tech firms in the Benelux countries, Denmark, Norway, Sweden, Finland, Switzerland, the UK and Austria. It is also on the look out for international niche companies with propriety products.
Indutrade seeks to acquire a number of companies each year with net sales exceeding SKr 30m (US$4.6m) each.
The group posted net sales of SKr 7.994bn (US$1.212bn) for 2011, up from SKr 6.745bn (US$1.024bn) the previous year. It posted SKr 822m (US$125m) in 2011 operating profit, up from SKr 614m (US$93m) for 2010.
