SEM specialises in the development of efficiency solutions for engines and the deal also includes its China-based SEM Technology Suzhou unit.
The acquisition was made on a debt-free basis, with a variable component depending on performance that may alter the final price by up to SEK10m ($1.5m).
Rolf Hasselström, president and CEO of Opcon, said, “The sale means a considerable strengthening of our financial position and that we can now focus entirely on the energy and environmental technology we have developed and which we see major opportunities for in the future.
“This will also trigger an overhaul of the organisational structure and strategy of our renewable energy business area and will also enable synergies within administration and management with further savings at group level.
“As an example our split headquarters between Åmål and Stockholm will be moved completely to Stockholm.”
The deal was completed through the German firm’s Perusa Partner Fund 2, which closed in December last year with commitments of €207m after just three months of fundraising.
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