STOCKHOLM, Jan. 25, 2021 /PRNewswire/ -- Talkpool AG has today signed an agreement to acquire all shares in Nordic Proptech Investment Services AB, which owns 100% of the shares in Home Solutions www.homesolutions.se. The estimated consolidated acquired revenues amount to SEK 27 million (Eur 2.68 million) with a net loss of SEK 1.6 million (Eur 159'000) for the calendar year 2020. The transaction will be completed no later than March 1st, 2021, based on audited Home Solutions accounts.
The total consideration, including down-payment, loan and interest, amounts to SEK 26.4 million (Eur 2.62 million) to the Scandinavian Credit Fund. The down-payment at closing amounts to SEK 8.5 million (Eur 843'000).
Home Solutions is a Smart Building Company that measures electricity, water, and energy in apartment buildings covering over 50'000 individual homes in Sweden. To put this in perspective, there are today 2.5 million privately owned (BRF) or rented flats in Sweden. Less than 10% of them have individual metering of electricity water and/or energy (so called IMD measurements) in place. This makes Home Solutions one of the leading IMD companies in Sweden.
The market is anticipated to growth fast, driven by several trends, including the increasing push for sustainability & energy efficiency, technical content, digitalization and requirements for convenience and fairness - "pay for what you use". In addition to this, governmental regulations from mid-2021 stipulate that all new buildings and ROT-renovations are obliged to get individual measurements installed. This will also open for more sophisticated measurements like CO2, radon etc., where Talkpool already has existing cutting-edge technology.
"Home Solutions was one of the pioneers in building digitization in Sweden with a great reputation and a passionate team", says Erik Strömstedt, CEO Talkpool. "Together we will become one of the proptech business leaders with a vision to enable our customers to accelerate digitization and make smarter decisions."
"Talkpool has a unique competence within LoRa and is making strong progress in digitization and IoT solutions. Home Solutions has long customer relationships and expertise in sales, marketing and execution and together with Talkpool's organization we will strengthen our product portfolio and market position. Residents and property owners will be the winners", says Mikael Wass, CEO Home Solutions.
About Home Solutions
Home Solutions is Sweden's largest supplier of individual metering and charging of electricity, water, heating, electric car chargers and temperature with tenant-owner associations. The company also has private property owners and the public utility as customers. Home Solutions was founded in 2001 by HSB and Vattenfall and now operates in partnership with Nordic PropTech Investment Services. Home Solutions' products are today installed all over Sweden, from Kiruna in the north to Malmö in the south. Home Solutions currently has over 50,000 apartments connected in its ecosystem and manages digital infrastructure and handles measurement and sensor data for customers throughout Sweden.
For more information, please contact:
Erik Strömstedt, CEO Talkpool
Tel: +41 81 250 2020
erik.stromstedt@talkpool.com
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