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3 September 2021, 14:45
Sdiptech acquires IDE Systems
As of today, Sdiptech AB (publ) acquires all shares in Wake Power Distribution Ltd, the sole owner of IDE Systems and IDE Rental (IDE), which is a specialist in temporary power distribution and monitoring systems in the UK.
IDE has over 20 years’ experience of designing and manufacturing power distribution solutions for, among other, datacenters, load bank testing, construction sites, events, and utilities. The company focuses on supplying power distribution equipment and EV-chargers to temporary power markets. IDE offers their own suite of onsite power management tools, enabling reductions in power usage and thus carbon emissions.
“We are delighted to welcome IDE to the Sdiptech group. The temporary power market is expected to have a stable growth. IDE has achieved a market leading position within their niche and is seen as an innovation leader in the industry with products that are designed to be cost effective and to reduce power wastage. With our experience in sustainable energy solutions, we look forward to working together with the team at IDE”, says Fredrik Navjord, Head of W&E at Sdiptech.
“We are extremely happy to be joining the Sdiptech group, whose commitment to developing sustainable societies aligns with IDE’s aims to provide safe and efficient temporary power solutions. With the support of Sdiptech for our ongoing investment in technology and operational excellence, IDE will be able to continue setting standards of service and support, both in the UK and our key export markets. The management team remains the same, and I would like to thank everyone at IDE who have worked so hard to get us to this point in our journey”, says Wayne Woodhead, Managing Director at IDE.
IDE is Sdiptech's ninth UK business unit and will be included in the business area Water & Energy as of September 2021. The company has annual sales of approximately GBP 8.0 million, with an EBIT profitability of approximately GBP 1.9 million. More information about IDE is available on the company's website: idesystems.co.uk.
For additional information, please contact:
Jakob Holm, CEO, +46 761 61 21 91, email@example.com
Bengt Lejdström, CFO, +46 702 74 22 00, firstname.lastname@example.org
My Lundberg, Sustainability & IR Manager, +46 703 61 18 10, email@example.com
The information was provided by the above contact persons for publication 3 September 2021 at 14:45 CEST.
Sdiptech’s common shares of series B are traded on Nasdaq Stockholm under the short name SDIP B with ISIN code SE0003756758. Sdiptech’s preferred shares are traded under the short name SDIP PREF with ISIN code SE0006758348.
Further information is available on the company's website: www.sdiptech.com
Sdiptech is a technology group that acquires and develops market-leading niche operations that contribute to creating more sustainable, efficient and safe societies. Sdiptech has approximately SEK 2,500 million in sales and is based in Stockholm.