Absolent acquires Tessu Systems B.V. in the Netherlands

Absolent Group AB has acquired the commercial kitchen ventilation company Tessu Systems B.V. in the Netherlands for 5.3 MEUR on a cash and debt-free basis with an opportunity for an additional earn out conditional on Tessu's performance in 2021 and 2022. Tessu has during the last three years had an average turnover of 5.5 MEUR with an EBIT margin of circa 29 %. Tessu will be consolidated into Absolent Group immediately.

"We are very pleased to welcome the Tessu team to the Absolent family. Tessu is a market leader in the Netherlands and a high performing business with a dedicated and professional workforce.

We added commercial kitchen ventilation as a strategic growth platform a year and a half ago by the acquisition of Jeven and Interzon. What we have seen and learned so far supports our decision to enter this market and build a global market leader.

Tessu is a perfect match with our existing businesses with its strategic supply position centrally in Europe and a high level of competence in commercial kitchen ventilation systems engineering and management. It will be a great addition to our business and we look forward to the synergies we can realize."- says Axel Berntsson, President & CEO Absolent Group

The initial purchase price, on a cash and debt-free basis, is 5.3 MEUR. Further, there is an earn out of maximum 6 MEUR directly linked to the EBIT level performed over the next 24-months. Tessu will immediately be consolidated into Absolent Group. The acquisition is financed by cash and is expected to have a positive impact on earnings per share for 2021.

Contact:

President & CEO Axel Berntsson +46 510 - 48 40 00

Absolent Group AB is listed on Nasdaq First North Growth Market.

Certified Adviser for Absolent Group AB is Erik Penser Bank AB. +46 8-463 83 00.

Email: certifiedadviser@penser.se

This information is information that Absolent Group AB (publ.) 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 4:00 p.m. CET on January 8, 2021.

ABSOLENT SLUTFÖR AVYTTRING AV GALLITO LTD I STORBRITANNIEN

Absolent Group har avyttrat Gallito Limited i Storbritannien. Avyttringen är i linje med Absolent Groups strategi och skärper fokuset på utvalda tillväxtplattformar.


ABSOLENT COMPLETES DIVESTITURE OF GALLITO LTD IN THE UK

Absolent Group has divested Gallito Limited in the UK. The divestment is in line with Absolent Group's strategy and sharpens the focus on core growth platforms.


Absolent förvärvar Tessu Systems B.V. i Holland

Absolent Group AB har idag förvärvat storköksventilationsbolaget Tessu Systems B.V. i Holland för 5,3 MEUR på kassa- och skuldfri basis plus en tilläggsköpeskilling som beror på bolagets resultat under 2021 och 2022. Tessu har de tre senaste åren haft en snittomsättning på 5,5 MEUR med en EBIT-marginal om ca 29 %. Tessu kommer omgående att konsolideras in i Absolent Group.


Absolent acquires Tessu Systems B.V. in the Netherlands

Absolent Group AB has acquired the commercial kitchen ventilation company Tessu Systems B.V. in the Netherlands for 5.3 MEUR on a cash and debt-free basis with an opportunity for an additional earn out conditional on Tessu's performance in 2021 and 2022. Tessu has during the last three years had an average turnover of 5.5 MEUR with an EBIT margin of circa 29 %. Tessu will be consolidated into Absolent Group immediately.


Absolent rekryterar ny CFO

Absolent Group AB har rekryterat Karin Brossing Lundqvist som ny CFO. Karin har en bred och djup bakgrund från ledande befattningar inom ekonomi och IS/IT i flera branscher, från snabbrörliga konsumentvaror till fordonsindustri. Karin har en kandidatexamen i ekonomi från Lunds universitet och kommer från positionen som CFO för DEKRAs svenska verksamhet. Hon och förväntas ansluta till Absolent vid halvårsskiftet 2021.


Absolent recruits a new CFO

Absolent Group AB has recruited Karin Brossing Lundqvist as a new CFO. Karin has an extensive background from executive positions in Finance and IS/IT in several industries spanning from FMCG to Automotive. Karin has a B Sc. In Business and Economics from Lunds university and is currently employed as CFO of the Swedish operation at DEKRA. She will join Absolent Group by mid-year 2021.








ABSOLENTS CFO AVGÅR

Absolent Group AB:s CFO, Anna Åkerblad, har idag sagt upp sig från sin anställning. Hon kommer att fortsätta i sin nuvarande roll under uppsägningstiden om fyra månader för att säkerställa en ordnad övergång till dess att en ny CFO tillträder. Rekryteringsprocessen av en ny CFO inleds omedelbart.


ABSOLENT'S CFO RESIGNS

Absolent Group AB:s CFO, Anna Åkerblad, has today handed in her notice. She will remain in her current position during the four months' notice period to ensure a structured handover until a new CFO joins the company. The process to recruit a new CFO will be initiated immediately.


Absolents styrelseordförande vinnare av Guldklubban för Region Väst 2020

Absolent Group AB:s styrelseordförande, Mikael Ekdahl, har idag blivit utsedd till vinnare av Guldklubban för Region Väst. Guldklubban är en utmärkelse för effektivt och affärsinriktat styrelsearbete instiftat av revisions- och konsultföretaget Deloitte och den ideella föreningen StyrelseAkademien.


Absolent's Chairman awarded the 'Golden Gavel' for Region West 2020

Absolent Group AB's Chairman of the Board, Mikael Ekdahl, has been awarded the Golden Gavel (Guldklubban) award for Region West. The Golden Gavel is an award for effective and business-oriented board work and was established by the auditing and consulting company Deloitte and the non-profit organization the Swedish Academy of Board Directors.




Absolent Group förstärker koncernledningen

Absolent Group AB har förstärkt koncernledningsgruppen med en ny Head of Operational Excellence som kommer ansluta till företaget senast den första september 2020.


Absolent Group strenghtens group management

Absolent Group AB has strengthened its Group Management with a new Head of Operational Excellence that will join the company at the latest on September 1st 2020.


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