The acquisition is part of Scandinavian Biogas’s strategy to achieve greater integration across the entire value chain, from organic waste to produced biogas and bio-fertilizer, and the capacity to offer comprehensive transport service to the biogas industry.
Ekdalens is a market leader in the transport of organic material with a focus on substrate and bio-substrate to and from biogas facilities in southern Sweden. Ekdalens has had a positive operational and financial development in recent years, with several new customers and high capacity utilization.
Biogas production is a growing industrial sector, and reliable substrate suppliers are absolutely crucial for the biogas industry. Biogas producers therefore need a strong logistics partner with a high level of expertise. Ekdalens matches this description perfectly, and its expertise will be important and advantageous for the entire biogas industry in Sweden, as well as for Scandinavian Biogas’s future growth projects, including the one that are pursuing with farmers in Mönsterås Municipality.
Ekdalens, headquartered in Helsingborg, was founded in 2005 by Ulf Wäktare, the current CEO and previous owner. Wäktare will continue as Ekdalens operations manager and will join the management team of Scandinavian Biogas’s Swedish operations. Ekdalens will continue to operate in its current form and the direction of the business will remain unchanged.
The acquisition terms in summary:
Total purchase price was divided as follows;
Cash payment of SEK 25.3 million
Issue of 444,444 shares in Scandinavian Biogas
Potential future earn-out payments based on Operative EBITDA 2020-2022, discounted to SEK 26.4 million
Matti Vikkula, CEO of Scandinavian Biogas, said, “It is gratifying to be able to follow up on our press release as of 30 November 2020 about the acquisition of Ekdalens Biotransporter AB, with the fact that it is now completed. We look forward to integrate Ekdalens into our group, and the increased sales and positive result are welcomed.”
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