Solwers Plc Press release 29/01/2024 at 10.45 EEST
Solwers Plc is expanding its service portfolio to include plant engineering and has signed an agreement on 26th January to acquire the entire share capital of Relitor Engineering AB. The acquired company will be consolidated in the Solwers group starting February 2024.
Founded in 1993 in Luleå, Relitor Engineering is a technical consultancy company that provides plant engineering services to the industry in Northern Sweden. They deliver everything from small projects to system deliveries of turn-key machines and process facilities.
Relitor Engineering employs over 20 professionals with expertise in layout and feasibility studies, machine and pipe design, steel construction, cisterns, pressure vessels, technical calculations, and client support.
According to the unaudited financial statement, Relitor Engineering had a revenue of SEK 27 million ja SEK 3.3 million EBIT in 2023.
“Relitor strengthens our presence in Northern Sweden, and their industry aligns with our strategy. The company has a stable position and a good order backlog. Its profitability exceeds our mid-term target and is therefore a great addition to the group. Together with other Solwers companies, WiseGate and ELE Engineering, we now have a Solwers consultant network serving industrial clients across the country. Relitor’s involvement, for example, in the design of green steel projects is of great interest to us in the future,” says Leif Sebbas, Chairman of the Board of Solwers Plc.
Part of the transaction will be paid in the form of Solwers shares, and the current management of Relitor Engineering will continue to develop the company as part of Solwers.
“We have been approached by other companies but have never felt it was a perfect match until now. Solwers’ support and encouragement to expand our local business and continue to focus on our strong corporate culture mean a lot to us,” says Per Nilsson, CEO of Relitor Engineering AB.