Swedish energy and environmental technology firm Opcon AB has acquired 100 per cent of Saxlund Holding AB, a Northern European supplier of equipment for bioenergy plants. Opcon had previously signed a letter of intent to acquire 75 per cent of Saxlund, and acquired the remaining 25 per cent with this latest transaction.
The total purchase sum for 100 per cent of Saxlund was set at SEK 18 million cash, with 1,625,000 newly issued shares in Opcon for the former owners of Saxlund.
The acquisition is aimed at strengthening Opcon’s expanding renewable energy business area with a well-established customer and supplier network in Europe, as well as in the Middle East and China. Saxlund has operated for more than 40 years and has subsidiaries in both the fast-growing German and UK markets. In addition to bioenergy supplies, Saxlund also provides equipment for sludge, slag, ash and waste handling.
“We are currently creating a stronger, international organisation that can offer a broader product portfolio and quote for, and implement, larger projects,” said Rolf Hasselström, president and CEO of Opcon. “This applies especially for the fast expanding bioenergy and pellets markets where we can see large synergies, not least with Opcon’s subsidiary, Svensk Rökgasenergi, which offers its services to the same or similar customers.”