Vestum completed the acquisition of Nortech Management.

Vestum, a Swedish industrial group, completed the acquisition of Nortech Management, a UK-based company specializing in monitoring and control technology for the water and electricity distribution sector. Financial terms were not disclosed. "We are today pleased to announce the acquisition of Nortech, which creates a new platform within Vestum's Flow Technology segment. Nortech has for a decade been a supplier to our existing water pumping operations in the UK and it is largely thanks to these businesses that we have been successful in attracting Nortech to become part of Vestum. Nortech is a market leader, with high market share, in monitoring and control technology in the structurally growing energy and water distribution sector in the UK and has, with over 30 years in the industry, extensive experience in providing innovative products to its customers. The company also sells its products internationally. Overall, we continue to deliver on our strategy to acquire high-margin companies in growing niches, while exiting the generalist part of the civil engineering industry in connection with the divestments. We are divesting SEK 25 million in EBITA with a 4% margin, and acquiring SEK 40 million in EBITA with a 30% margin. We look forward to continuing to strengthen profitability within Vestum, both organically and through acquisitions, says Simon Göthberg, CEO of Vestum." Simon Göthberg, Vestum CEO.