HELSINKI--(BUSINESS WIRE)--Regulatory News:
Eltel (STO: ELTEL) has acquired the German company Edi.Son Energietechnik GmbH within the Power segment. The acquired company shows a turnover of over EUR 20 million per year and has more than 100 employees.
Eltel has today announced the signing of the acquisition of Edi.Son Energietechnik GmbH, specializing in planning, design and construction of 110 to 380 kV overhead lines in Germany. With the acquisition of Edi.Son, Eltel is in the position to deliver both transmission lines and substations up to 380 kV to the German customers. The acquisition is an important step for Eltel and its growth strategy to extend its market scope in one of the largest European markets.
Prior to the acquisition Eltel has been present in the German market in its Communication business for over 10 years. A Power transmission and distribution business was established in 2013 and the first customer contract was signed in late 2014.
Eltel is present in the Nordic, Baltic, Polish and UK markets to deliver project services, upgrades and maintenance to power transmission and distribution system operators and counts as one of the leading players with its Power segment. In addition Eltel has delivered electrification projects and systems outside Europe, mostly in Africa, for over 50 years.
Axel Hjärne, CEO of Eltel comments:
“The acquisition of Edi.Son is a great step for Eltel and our journey as a leading Infranet company in Europe. Eltel has a very long tradition of building high voltage transmission lines internationally and we are very happy to announce a strengthened entry with Edi.Son in the German market. Edi.Son is a well recognized company in its market and will together with Eltel have good opportunities to grow the business further. We welcome the employees of Edi.Son to join Eltel”.
Ralph Sonntag, Managing Director and seller of Edi.Son comments:
“Edi.Son has grown to a size where I consider being a part of a larger international group will further boost the development of the company. After careful considerations, I came to the conclusion that Eltel would fulfil the expectations of Edi.Son and its employees and I am happy to make this announcement today. I will continue as Managing Director in Edi.Son and continue to develop the company jointly with Eltel”.
More about Edi.Son
Edi.Son Energietechnik GmbH is a company located in Wustermark, in the vicinity of Berlin, Germany. The company has more than 100 employees working with overhead line planning, design and construction. Edi.Son has been owned by Mr. Sonntag since 2005. The company has shown stable performance over the years.
Eltel is a leading European provider of technical services for critical infrastructure networks – Infranets – in the segments of Power, Communication and Transport & Defence, with operations throughout the Nordic and Baltic regions, Poland, Germany, the United Kingdom and Africa. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a loyal and growing customer base of large network owners. The number of employees is approximately 8,600 and in 2014, Eltel net sales amounted to EUR 1,242 million.
This is information that Eltel AB (publ) is required to publish in accordance with the Swedish Securities Markets Act and/or the Swedish” Financial Trading Act. This information was submitted for publication on 30 March 2015 at 08:00 a.m. CET.
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