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Construction News
08/01/2018
Swedish Engineering Group Acquires Multitech Site Services
Swedish engineering group Sdiptech has completed the acquisition of Essex-based supplier of temporary electronics, Multitech Site Services.
The deal will see Multitech's Managing Director, Guy Scilly, remain in his position alongside Samantha Scilly as Financial Director and David Rooney as Operations Director.
During the financial year ending October 31, 2017, net sales at Multitech amounted to around £10.4 million, with operating income sitting at approximately £1.9m.
Jakob Holm, Chief Executive Officer of Sdiptech, said: "Multitech has delivered successful projects for many years in temporary infrastructure. The company's focus correlates very well with Sdiptech's, with a good mix of customers in both the public and private sectors. With the acquisition of Multitech, we take an additional step in our strategy to expand to London and the UK."
Multitech MD Guy Scilly added: "I am very pleased to welcome the Sdiptech group as the new owners of Multitech. I like their business philosophy and the shared values that we hold. I am in no doubt that their expertise and network will enable further growth for the business going forward."
(LM/MH)
The deal will see Multitech's Managing Director, Guy Scilly, remain in his position alongside Samantha Scilly as Financial Director and David Rooney as Operations Director.
During the financial year ending October 31, 2017, net sales at Multitech amounted to around £10.4 million, with operating income sitting at approximately £1.9m.
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Jakob Holm, Chief Executive Officer of Sdiptech, said: "Multitech has delivered successful projects for many years in temporary infrastructure. The company's focus correlates very well with Sdiptech's, with a good mix of customers in both the public and private sectors. With the acquisition of Multitech, we take an additional step in our strategy to expand to London and the UK."
Multitech MD Guy Scilly added: "I am very pleased to welcome the Sdiptech group as the new owners of Multitech. I like their business philosophy and the shared values that we hold. I am in no doubt that their expertise and network will enable further growth for the business going forward."
(LM/MH)
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