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Zaptec AS — M&A Activity 2021
Jun 25, 2021
3796_rns_2021-06-25_65572efc-055c-4ed5-8430-b5def13364ae.html
M&A Activity
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Zaptec acquires NovaVolt AG
Zaptec acquires NovaVolt AG
Stavanger, Norway 25 June 2021
This is a reference to the Stock Exchange announcement of 4 May 2021 regarding the Term Sheet to purchase NovaVolt.
Zaptec Charger AS (100% owned by Zaptec AS) has today 25 June signed a purchase agreement for 100% of the shares in Novavolt AG in Switzerland. The acquisition is financed with 29,5 MNOK in a cash settlement and 700.000 shares in Zaptec. In addition, there is an earn-out that can give a total purchase price of up to MNOK 98,6 based on the share price of 41,58 NOK. The current shareholders in NovaVolt who will now become shareholders as well as operational in Zaptec will have a 3-year lock up on their consideration shares.
Novavolt AG is Zaptec's exclusive distributor in Switzerland and has 9 employees. The company generates robust profits from growing revenue and expects a turnover of MNOK 80 in 2021, which is an organic growth rate of about 100% from the previous year.
The acquisition ensures Zaptec control over a larger part of the value chain for the sale of charging systems in a strongly growing electric car market in Switzerland. Approximately 1% of the car fleet is electrified and 17% of new car sales is electric cars as of May 2021. About 60% of homes in Switzerland are rental apartments, representing a large market for the cutting-edge technology in our Zaptec Pro charging system.
“The transaction will accelerate our profitable growth strategy in Europe. NovaVolt AG provides premier customers like SwissLife, CreditSuisse and UBS with Zaptec charging systems and the team of top professionals in NovaVolt will embark on an exciting journey to electrify the transportation sector in Europe” says Anders Thingbø, CEO of Zaptec.
For more information:
Anders Thingbø, CEO, Zaptec AS Tel: +47 934 88 385, e-mail: [email protected]
Kurt Østrem, CFO, Zaptec AS Tel: +47 404 04 700, e-mail: [email protected]
Florian Kienzle, CEO, NovaVolt AG Tel: +41 79 676 48 64, [email protected]
The information included in this announcement is defined as inside information pursuant to MAR article 7, and is publicly disclosed in accordance with MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. The announcement is made by the contact person.
About NovaVolt: NovaVolt is a joint-stock company founded in 2017, specializing in future-oriented charging solutions in Switzerland. The company is the exclusive distributor of Zaptec's charging systems in Switzerland, and has 9 employees with headquarters in Zurich. Customers of NovaVolt include major insurance and pension companies, property owners, energy companies, car dealers, and housing companies.
About Zaptec: Zaptec AS is a technology company and develops EV charging systems for multi and single-family homes and office buildings. The product portfolio enables a large number of charging points at a low cost and includes Zaptec Pro, Zaptec Go, Charge365 payment services, Charging columns, Zaptec Portal, and Zaptec APM. The company accelerates the electrification of the transport sector to assist European countries in reducing CO2 emissions from light-duty cars.