Wall to Wall Group AB (publ) ("Wall to Wall") has, through its wholly owned subsidiary Spolargruppen Sverige AB, entered into an agreement to acquire all shares in Energiprojekt Stockholm AB ("Energiprojekt"). The acquisition is a strategic step to broaden and further strengthen the group's offering in energy-saving solutions.
Energiprojekt provides installation, service, and inspection of ventilation systems, as well as energy audits and implementation of energy-saving solutions. Its customer base primarily consists of property owners, housing cooperatives and commercial property managers.
The acquisition enables Wall to Wall Group to offer a complete solution for the installation and maintenance of technical property infrastructure - with energy-saving solutions that reduce energy costs and strengthen net operating income for property owners.
The net revenue of the acquired business amounts to approximately SEK 20 million on an annual basis, with historically strong profitability and growth. The purchase price follows Wall to Wall Group's established acquisition model - a combination of cash and shares at closing, along with an additional earn-out based on the achievement of growth and profitability targets over a three-year period.
"We are pleased to welcome Energiprojekt to Wall to Wall Group. The acquisition strengthens our position in energy-saving solutions and makes Wall to Wall Group a natural partner for property owners seeking to reduce their energy consumption and future-proof their portfolios", says André Strömgren, CEO of Wall to Wall Group.
"Becoming part of Wall to Wall is a natural next step for us. We share the same view on the energy-saving measures required for property owners to meet the energy demands of modern and sustainable property management", says Mikael Gripenberg, CEO of Energiprojekt.
Contacts
André Strömgren, CEO & CFO
+46 708 410 796
andre.stromgren@walltowallgroup.com
About Wall to Wall Group AB
Wall to Wall Group is primairly active within property related pipe flushing and relining. Wall to Wall's customers mainly consist of commercial property managers and housing cooperatives. Wall to Wall Group has a clear growth strategy with a focus on both acquisitions and organic growth, including through greenfieldings in new locations. The head office is located in Stockholm.
