The acquisition complements the Indutrade company Geomek, who offers solutions, products and services in geotechnical surveying and the foundation drilling industry. Censor has, on behalf of the sellers, acted as project manager and financial advisor in connection with the transaction.
Target
Geotech develop, manufacture and sell equipment for geotechnical investigations. The offering consists of specialised drilling rigs, i.e., crawler penetrometers, as well as geotechnical instruments and field equipment, complemented by aftermarket services where the company offers repair and maintenance, spare parts and calibration services. The end customers for the drilling rigs are primarily engineering consulting companies active mainly in the Nordics. For geotechnical instruments and field equipment the market is international. Geotech was founded in 1970 in Gothenburg, has 44 employees, turnover of approx. SEK 100 million.
Buyer
Indutrade is an international technology and industrial business group that today consists of more than 200 companies in some 30 countries, mainly in Europe. In a decentralised way, the group aims to provide sustainable profitable growth by developing and acquiring successful companies managed by passionate entrepreneurs. Indutrade's companies develop, manufacture, and sell components, systems and services with significant technical content in selected niches. The group's value-based culture, where people make the difference, has been the foundation of its success since the start in 1978. Indutrade's net sales totalled SEK 21.7 billion in 2021, and the share is listed on Nasdaq Stockholm in Sweden.
