Nederman has today signed and completed a deal to acquire 100% of the shares in Gasmet Technologies Oy, a world leading supplier of FTIR gas analysis solutions for both continuous emission and mercury monitoring systems and portable gas analysers. Based in Helsinki, Finland the company also operates globally through entities in Germany, UK, Canada, Hong Kong and Austria.
Gasmet, founded in 1990, is the leading FTIR (Fourier Transform Infrared Spectroscopy) gas analyser and emissions monitoring system provider, with more than 30 years of FTIR experience.
Gasmet develops, manufactures and markets complete solutions for monitoring industrial emissions and portable instruments to study climate change and ensure people’s safety. The company has supplied more than 4000 analysers worldwide having the largest installed base for on-site and industrial applications, in approximately 80 countries. In the field of gas analysis, the company has established an international reputation for innovative, customer-driven and reliable solutions.
The acquisition price amounts to an enterprise value of approximately EUR 56 million on a cash and debt free basis. The acquisition is funded by a combination of cash and existing bank facilities.
With more than 100 employees globally, Gasmet had a turnover in 2018 of more than EUR 21 million. Turnover for 2019 is likely to grow significantly. The acquired business has an EBITDA margin in excess of that of the Nederman Group, though due to acquisition costs and the short period of Nederman ownership during 2019, the positive impact on earnings per share is not expected to start until 2020.
Gasmet will be part of Nederman’s Monitoring & Control Technology division where Gasmet’s monitoring technology will be highly complementary to that of both Neo Monitors acquired in 2017, and Auburn FilterSense acquired during 2018. The Gasmet brand and team will continue to operate as before and the technologies will be integrated into Nederman’s solutions and the Nederman Insight application and digital ecosystem.
“There is an excellent strategic fit between Nederman and Gasmet. The world leading and complementary technologies from this acquisition strengthens our Monitoring & Control Technology division’s position, which will in turn allow Nederman to further enhance our Clean Air products, solutions and services going forward,” says President and CEO, Sven Kristensson.
|For further information, please contact:
|Sven Kristensson, CEO
||Matthew Cusick, CFO
|Telephone: +46 42 18 87 00
||Telephone +46 42 18 87 00
This information is information that Nederman Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16:45 p.m. CET on December 9, 2019.
Nederman is a global leader in industrial air filtration dedicated to capturing, measuring, controlling and cleaning air to make industrial production more efficient, safe and sustainable. Based on industry leading products, solutions and services in combination with an innovative IoT platform we deliver knowledge and facts needed to optimise performance and guarantee emissions compliance.
The Nederman Group is listed on Nasdaq Stockholm. The Group has approximately 2300 employees and presence in more than 50 countries. Learn more at nedermangroup.com
Nederman Holding AB (publ), P.O. Box 602, SE-251 06 Helsingborg, Sweden.
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