Addtech Industrial Solutions has signed an agreement to acquire 90% of the shares outstanding in Feritech Global Ltd (”Feritech”).
Feritech designs and manufactures bespoke technical solutions for the geotechnical subsea sector.
The company operates globally mainly towards the expansion of offshore wind power. Feritech is based in Cornwall, UK, has 21 employees, and a turnover of approximately GBP 4.5 million.
"Feritech complements and strengthens Addtech's existing operations within the Vehicle Solutions business unit. The closing takes place today. The acquisition is expected to have a marginally positive impact on Addtech's earnings per share during the current financial year," Addtech said Friday.