Indutrade AB (UK) - Indutrade has on 30 November 2018 signed an agreement to acquire all of the shares in NRG Automation Limited, with annual sales of approximately GBP 5.0 million. The agreement was signed after the market closed on Friday.

NRG Automation is a specialist supplier of drives, motors and controls for industrial, commercial and residential doors and shutters. NRG also offer a range of gate and barrier automation solutions. Customers are manufacturers and installation contractors of doors, shutters and gates in the UK and Ireland.

The closing took place on 30 November and NRG Automation will be part of Indutrade’s UK company Ellard Ltd, within the UK Business area.

“We are pleased to announce this add-on acquisition to Ellard. The combined offerings both strengthens our position and provides additional growth opportunities within the UK market”, says Peter Rowlands, Senior Vice President UK Business Area.

The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.