GESCO AG

M&A Activity • Jan 10, 2023

News Details

Corporate | 10 January 2023 07:30

GESCO SE: Subsidiary SVT closes transaction

EQS-News: GESCO SE / Key word(s): Contract/Mergers & Acquisitions

GESCO SE: Subsidiary SVT closes transaction

10.01.2023 / 07:30 CET/CEST

The issuer is solely responsible for the content of this announcement.

In November 2022, GESCO announced that its subsidiary SVT GmbH had concluded a purchase agreement for the steel construction division of its long-standing Hungarian supplier BAV Tatabánya Kft. based in Tatabánya . In the meantime, the transaction has been approved by the Hungarian authorities, so that the transaction has now been successfully completed.

The core business of the acquired part of the company is the design and manufacture of welded steel structures. These are required for special steel constructions such as SVT’s loading arms. As before, however, the acquired part of the company will also serve demand from outside the group and today has a pleasing external order intake.

With the closing of the transaction in the current financial year, the business unit will be consolidated for the first time in the first quarter of 2023 and thus the transaction will have no impact on the key financial figures of the 2022 financial year.

About GESCO:

GESCO SE is an industrial group with market- and technology-leading companies in the capital goods industry with a focus on process, resource and healthcare and infrastructure technology. As a company listed in the Prime Standard, GESCO SE gives private and institutional investors access to a portfolio of hidden champions of the German industrial SME sector.

M&A contact:

Daniel Kral

Head of M&A

Tel. 0202 24820-38

Fax 0202 24820-49

E-Mail: kral@gesco.de

IR- & Press contact:

Peter Alex

Head of Investor Relations & Communications

Tel. 0202 24820-18

Fax 0202 24820-49

E-Mail: ir@gesco.de

Internet: www.gesco.de

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10.01.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	GESCO SE
	Johannisberg 7
	42103 Wuppertal
	Germany
Phone:	+49 (0)202 24820 18
Fax:	+49 (0)202 2482049
E-mail:	ir@gesco.de
Internet:	www.gesco.de
ISIN:	DE000A1K0201
WKN:	A1K020
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1530877

End of News	EQS News Service