Navigo’s subsidiary company Chemgroup Holding acquires Sisource – strengthens the customer offer in chemical management
Press release 2023-06-30
Navigo Invest AB (publ) ("Navigo"), through its subsidiary company Chemgroup Holding AB, today, June 30, 2023, entered into an agreement regarding the acquisition of all shares in Sisource AB. The parties' ambition is for the deal to be completed and access to the shares to take place during the third quarter of 2023. Sisource's current owners will remain shareholders as part of the purchase price is reinvested in Chemgroup Holding AB and Navigo. More information about the acquisition can be found in Navigo's press release, available on Navigo's website, https://navigoinvest.com/
Sisource AB was formed in 2013, as a result of a management buyout (so-called management buyout) from AGA Gas AB, and today has an annual turnover of approximately SEK 140 million with good profitability. The company has around 30 employees and provides services within Chemical Management Services (also called CMS). The company offers services that include handling of chemical products, storage, distribution as well as consultative services regarding compliance with legal requirements, training, waste management and handling of safety data sheets. Sisource has its headquarters in Linköping and currently offers its services primarily in Sweden.
Increased demands from authorities, society, and customers on, sustainability and legal compliance regarding chemicals among other things often pose a challenge for many companies. CMS aims to ensure and optimize how the organization handles chemicals within the workplace. The joint customer offer from Sisource and Chemgroup contributes to improving the environment and the working environment by reducing the use of health and environmentally hazardous chemicals, while also creating financial benefits. The company's customers are found in various sectors, such as defense, aviation, railway, and other manufacturing industries.
“-We view this new structure as a positive step forward that we believe will benefit all parties. We will remain significant shareholders, which is a testament to our confidence in the future growth of the company. Together, we become stronger and can take further steps to broaden and strengthen our provided services and accelerate our ambitious growth" says Tommy Nilsson, CEO of Sisource AB”
“-We are pleased with the acquisition of Sisource, which marks a milestone in Chemgroup's growth as a subsidiary. The companies complement each other well, both values and culture align, and we see both business and organizational synergies that can be integrated", says Victor Örn, CEO of Navigo Invest AB.”
This information is information that Navigo Invest AB (publ) is obliged to make public according to the EU's market abuse regulation (EU no. 596/2014). The information was submitted, through the care of the specified contact person, for publication on June 30, 2023 at 18:30 CEST.
For further information please contact:
Victor Örn, CEO, Navigo Invest AB (publ), tel: +46 70 863 64 01, email@example.com
Ulf Hedlund, Chairman of the Board, Sisource AB +47 768 114 500, firstname.lastname@example.org
About Navigo Invest AB (publ)
Navigo (www.navigoinvest.com) is an investment company that invests in small and medium-sized unlisted companies, preferably in Sweden. Navigo's preference share is listed on Nasdaq First North Premier Growth Market Stockholm.Erik Penser Bank AB is Navigo's Certified Adviser on Nasdaq First North Premier Growth Market Stockholm.
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