Troax AB acquires Garantell AB
Hillerstorp 1st of December 2023, 11:00 CET
Troax AB, which is a part of the Troax Group, has entered into an agreement to acquire all outstanding shares in Garantell AB (“Garantell”)
Garantell is a Swedish company specializing in the design, manufacture, and distribution of customized mesh decks, mesh panels, wire mesh, and safety solutions primarily for industrial and commercial applications. The company’s turnover is roughly 35 M€ with a solid but somewhat lower profitability compared to Troax. Garantell was founded in 2002.
“I am happy to announce that Garantell is joining the Troax Group. Their track record, commitment to quality, and innovative solutions complements our mission to provide world-class products and services to our customers. This acquisition underscores Troax strategic vision to expand its portfolio and strengthen its position as a market leader.” says Thomas Widstrand, President and CEO of Troax.
“The combined strengths of Troax and Garantell will enable us to offer a wider array of tailored solutions, further enhancing the value we bring to our customers. We look forward to starting to work with the team at Garantell and together continuing to develop the business.” says Mikael Carlsson, Head of Marketing & M&A at Troax.
“With gratitude for a remarkable journey, I am happy and proud to hand over Garantell to Troax. I am convinced that Troax will be a good owner for the company and continue to develop the business and its employees. I look forward to following the group's continued success.”, says Per-Åke Axelsson, co-founder of Garantell.
The integration process will focus on continuing to develop Garantell and at the same time, on a positive note for both companies, leveraging the synergies between the companies, aiming to streamline operations, enhance product development and optimize customer experiences.
The acquisition will be financed within Troax’s existing cash and available credit facilities. The transaction is expected to close today.
The acquisition will increase Troax net debt with approximately 410 MSEK, and the acquisition will add positively to Troax Group’s earnings per share from day one.
For further information, please contact:
Thomas Widstrand, Presidend & CEO
Tel +46 (0)370-828 31
Anders Eklöf, CFO
Tel +46 (0)370-828 25
Mikael Carlsson, Head of Marketing & M&A
Tel +46 (0)370-828 75
This information is information that Troax Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014). The information was submitted for publication, through the agency of the contact person set out above, at 11:00 CET on the 1th of December 2023