Australian automotive components manufacturer GUD Holdings Limited has entered into an agreement to acquire Rindab AB (RVX) and a subsidiary of Vision X Europe AB from the Swedish owners of RVX. This is reported in the GUD press release.
The value of the transaction is 98.6 million Swedish kronor, including 83.6 million Swedish kronor (12 million Australian dollars), which will be paid at the closing of the transaction and 15 million Swedish kronor - in 2 years, subject to the achievement of positive indicators. Financing of the transaction involves the use of borrowed funds.
The transaction is in line with GUD's strategy aimed at diversifying activities in new markets and strengthening one of GUD's key strategic trends to create a global company in the automotive lighting equipment manufacturing sector.
RVX will enter the structure Brown and Watson International (BWI), a subsidiary of GUD, to expand BWI's presence in Scandinavia and Northern Europe, including Germany and Poland.
RVX will complement the Vision X product range through a network of equipment sales and after-sales service, as well as provide access to new European markets and allow BWI to take one of the strongest positions in the global crucible market.
The completion of the transaction is scheduled for November 1, 2023
GUD Holdings Limited is an Australian company for the production and sale of automotive components, pumps, systems for swimming pools, etc. GUD's customers are Volvo and Scania, as well as a network of truck dealerships. The headquarters is located in Altona North (Victoria, Australia) with offices in New Zealand, USA, Thailand, South Korea and France. The shares are listed on ASS.
BWI is an Australian manufacturer of automotive electrical equipment and lighting products, including high-beam headlamps, emergency lighting, battery chargers, starting devices, portable power management devices, inverters and car accessories. BWI is a subsidiary of GUD Holdings.
RVX is a Swedish company producing automotive components (light panels, cameras for trucks and buses, digital SLR systems, as well as accessories for pickups and all–terrain vehicles). The headquarters is located in Stockholm (Sweden).
