Solar A/S is acquiring parts of the activities Otra Danmark A/S, which is owned by the French Sonepar Group and functions as the group’s Danish subsidiary. The final acquisition is expected to take place at the beginning of September 2010.
Otra Danmark A/S operates as wholesaler within the product areas electrical installation material, lighting, security/alarms, telecommunications/datacommunications as well as cords and cables. The part of the business acquired by the Solar Group’s Danish subsidiary Solar Danmark A/S consists primarily of sales to electrical contractors. Revenue from the activities acquired amounted to DKK 202m in 2009. The activities related to utilities will be continued by Otra Danmark A/S.
The Solar Group, which is based in Kolding, is constantly working to reach a position as the leading technical wholesaler by expanding the product range and technical competence within electrical, heating, plumbing and ventilation products in its four main markets Denmark, the Netherlands, Sweden and Norway.
With the acquisition of Otra Danmark A/S, Solar A/S follows up on one of its strategic focus areas, which is to create growth through acquisitions, which will further strengthen the market position – in this case, the position in the Danish market. After a minor break, Solar thus follows up on the wave of acquisitions, which most recently resulted in the acquisition of the Dutch plumbing wholesaler Vegro B.V and the Polish electrical wholesaler Eltomont Sp. z o.o in 2008.
CEO Flemming H. Tomdrup, Solar can be reached on mobile at +45 40 34 29 00 for further comments.
Corporate IR & Communications Manager Charlotte Risskov Kræfting, Solar can be reached on mobile at +45 40 34 29 08.
Solar A/S (previously Aktieselskabet Nordisk Solar Compagni) was established in 1919 and listed on the Copenhagen Stock Exchange in 1953. Solar is one of Northern Europe’s leading technical wholesalers within electrical, heating, plumbing and ventilation products. The group, which is based in Kolding, Denmark, has subsidiaries operating under the Solar brand in Denmark incl. the Faroe Islands, Sweden, Norway, the Netherlands, Germany and Poland. Furthermore, Solar’s Aurora Group operates in Denmark, Sweden, Norway and Finland. Solar is Denmark’s forty-first largest company measured on revenue, and it employs a total of 3,000 people. Denmark remained the enterprise in which Solar has the most employees with 29% of staff, while the Netherlands is now our largest foreign subsidiary, representing 24% of staff. For more information, please visit www.solar.eu.
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