We advised Harju Elekter on purchasing a Swedish engineering company
Ellex Raidla advised Harju Elekter in the purchase of Swedish sales and technical solutions company SEBAB AB and manufacturer of pre-fabricated technical buildings Grytek AB from Tnåa AB.
Harju Elekter paid 3.6 million euro for the two companies (SEK 36.0 million). The acquired companies will initially continue to use their name and trademarks, operating as full subsidiaries of the group.
Harju Elekter Group has been active on the Swedish market since 2010 delivering substations and industrial automation solutions to Swedish customers.
As a result of this transaction, the Estonian stock company will enter new markets and expand its product portfolio. Concurrently, Harju Elekter Group’s capability to offer its Swedish clients more complete technical solutions and turn-key projects as well as service support will increase
Harju Elekter Group’s plants in Estonia, Finland and Lithuania employ more than 600 specialists, and the Group’s 9 months 2017 revenue amounted 74 million euros. Harju Elekter’s shares are listed on Nasdaq Tallinn.
Harju Elekter was advised by Ellex Raidla partner Risto Vahimets.