Absolent Group AB (publ) has acquired Diversitech Inc., based in Montreal, Canada. Diversitech is a privately held global frontrunner in the fume extraction market expected to close the fiscal year 2019 in August with a turnover of SEK 140 million. The initial purchase price is SEK 96 million. Further, there is an earn out of maximum SEK 46 million directly linked to the EBITDA level performed over the next twelve months. The transaction is strategically important among other things as the company will serve as Absolent Group’s third growth platform following the existing metal machining and dust bulk handling platforms.
Absolent Group is a global company group which, under the trademarks Absolent, Bristol and Filtermist, manufactures and sells air cleaning equipment for the cleaning of industrial process air within the machine tool business. Absolent Group had during 2018 approximately 240 employees and a turnover of around SEK 640 million. The group has its headquarters in Lidköping, Sweden, and production facilities in Sweden, England and Germany and is active, directly or through distributors, in 50 countries around the globe. Absolent Group AB is listed at Nasdaq First North Stockholm.
Absolent Group was advised by HWF Advokater in the transaction.