Beijer Alma’s subsidiary Beijer Tech acquires Botek
Beijer Tech entered into an agreement today to acquire all shares in Botek Systems AB, a leading manufacturer of hardware and software for vehicle-mounted scales and RFID systems for the waste management industry.
Botek develops, manufactures and supplies vehicle-mounted scales with systems for RFID-based collection recording and associated software solutions for planning, executing and reporting collection services within the waste management industry. The products are technically complex and used in demanding environments, which imposes high quality requirements. The company has a high degree of technical expertise and works proactively with both product and software development to maintain its leading position. Including its subsidiaries, Botek has a total of 44 employees in Ulricehamn, Stockholm, Smedjebacken and Torsby, with turnover of approximately MSEK 100 and good profitability.
The acquisition is in line with Beijer Alma’s model for value-adding acquisitions and Beijer Tech’s strategy of acquiring profitable companies in attractive niches with good growth potential and high value add.
Beijer Tech’s President, Staffan Johansson, commented on the transaction: “The waste management industry is constantly evolving, and it is an important part of the transition towards a circular and sustainable society. This transition requires increasing amounts of data as the industry digitizes, and we are very impressed by the strong market position that Botek has established. The company is well managed, niched and provides us with a new product area with exposure to a growing market, fully in line with our active acquisition strategy. I look forward to working together with Botek’s management and employees to take the company to the next level.”
Botek’s President, Anders Axelsson, also commented on the transaction: “Since 2010, Botek has grown from around MSEK 30 in turnover to approximately MSEK 100 today, and those of us in the management team, together with the employees, are now looking forward to working with Beijer Tech to take the next step in the company’s development. I would also like to take the opportunity to thank the former owners, Bo and Hans Stålhandske, for the good cooperation we have had during the years I have been involved in Botek.”
In the transaction, Beijer Tech acquires 100 percent of the shares in Botek Systems AB, with closing early in the first quarter of 2023. The acquisition is expected to have a marginally positive impact on Beijer Alma’s earnings per share.