STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Today, Opus Inspection has signed an agreement to acquire the U.S. based emission test equipment business from Bosch Automotive Service Solutions, Inc. The acquired business activities include sales and service of emission test equipment in California, Pennsylvania and North Carolina at over 5,000 active customers that are new to Opus. In 2015, the business generated over USD 5 million in revenues. Operating profit margins over the past three years varied between 10 – 15 percent.
Opus Inspection expects to close the transaction on December 1, 2016. The purchase price is approximately USD 1.5 million.
"The acquisition broadens Opus Inspection’s customer base in the U.S. for the supply and service of emission test equipment in three strategically important markets. We are excited to bring Opus’ vastly successful EaaS (Equipment as a Service) business model to these new customers and expect to significantly exceed prior year revenues for this business under the EaaS model already in 2017", says Jim Sands, President of Opus Inspection.
Mölndal, November 29, 2016
Opus Group AB (publ)
Opus Group is a leading innovative technology focused growth company in the vehicle inspection market. The company has a strong focus on customer service and innovative technology within IT, emission testing and vehicle communication. The Group had SEK 1,650 million in revenues in 2015 with strong operating cash flow and good operating profitability. With over 1,500 employees, Opus Group is headquartered in Mölndal in the Gothenburg region of Sweden and has 25 regional offices, 20 in the United States and the others in Stockholm, Peru, Chile, Mexico and Pakistan. Opus Group has production facilities in the U.S. in Hartford, Ann Arbor and Tucson. The Opus Group share is listed on Nasdaq Stockholm.
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