E.ON acquires Coromatic
E.ON acquires the Swedish company Coromatic, a Nordic market leader of critical infrastructure solutions.
E.ON has signed a contract with EQT to acquire 100 percent of the shares of Coromatic.
Coromatic helps customers to secure data communication and power supply in critical facilities 24/7 by providing services and solutions delivering emergency power and uninterrupted power supply.
The company is a leading Nordic player in critical infrastructure, providing security of power supply to protect operations in critical sectors such as data centers, transportations, energy, communications, medical care and the public sector.
Coromatic’s solutions make it possible for companies and organizations to operate without energy supply interruptions and with high electricity quality.
– Acquiring Coromatic is an important step towards our strategic ambition of becoming a leading energy solutions company. As artificial intelligence, smart homes and buildings become increasingly prevalent, the need for 24/7 uninterrupted power supply will continue to grow. I see a great potential for both E.ON and Coromatic to jointly capitalize on this trend, says Marc Hoffmann, CEO E.ON Sverige.
The critical infrastructure solutions market is a very attractive future market for E.ON. In the last few years, the demand for uninterrupted power supply has increased driven by rapid digitalization of critical infrastructure services.
– Coromatic is on a very exciting growth journey with impressive focus and aspiration. As the new owners we want to provide the best possible conditions to ensure that the management team and all the employees can fulfill their ambition, says Marc Hoffmann, CEO E.ON Sverige.
– Together with EQT, Coromatic has transformed into a Nordic leader, through geographical expansion as well as building competencies and widening the offering. Most importantly, this has allowed us to serve our customers better and faster. We now look forward to continue our ambitious growth journey together with E.ON, pursuing a bold ambition of becoming the frontrunner of the decentralized energy market in Europe. We see this as an ideal fit with a common purpose of securing operations 24/7 through energy efficient solutions and thereby improving people’s lives, Erik Bertman, CEO of Coromatic
The transaction is subject to approval from the relevant authorities and is expected to close in late Q2 or Q3 2019.
SEB and Mannheimer Swartling are advising E.ON on this transaction.