Absolent Group AB (publ) has acquired Jeven Global Oy based in Mikkeli, Finland, and with manufacturing in Söderhamn, Sweden. Jeven is a privately held Nordic market leader in commercial kitchen ventilation and had a turnover in 2018 of SEK 126 million. The initial purchase price is SEK 100 million. Further, there is an earn out of maximum SEK 27 million directly linked to the EBIT level for the rest of 2019. The transaction is strategically important among other things as the commercial kitchen ventilation segment holds significant growth and innovation opportunities at the same time as it spreads Absolent’s market exposure across new areas.
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.