Bufab Has Acquired Thunderbolts Group Limited

Bufab, through its subsidiary Montrose Holdings Ltd, signed an agreement to acquire 100 percent of the shares in the privately-owned company Thunderbolts Group Limited, in Southampton in the United Kingdom. The acquisition will be completed with immediate effect, and will be reported in Bufab's segment International.

Thunderbolts was founded in 1991 and has through steady growth developed into a significant supplier to the construction, manufacturing, marine and healthcare industries in the south of England. The company had net sales in 2016 of GBP 2.9 million, good profitability and 19 employees. Thunderbolts is expected to contribute marginally to Bufab's earnings per share from the third quarter of 2017.

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Bufab expects to book acquisition related costs amounting to approximately SEK 5 million in the second quarter of 2017. These are attributable both to the acquisition of Thunderbolts and, due to the positive performance of acquired companies in previous years, to revaluation of conditional purchase considerations.