The Burkhalter Group is to acquire Strässle Installationen AG, based in Amriswil (canton of Thurgau), with effect from 12 January 2023. The company has around 50 employees and generates annual sales of around CHF 10 million. The purchase price is to be settled in cash and by way of the buyer's registered shares from authorised capital.
The Burkhalter Group is expanding its presence in Thurgau with the acquisition of Strässle Installationen AG, based in Amriswil. The company has been successful in the regional market since 1989, offering plumbing, heating, ventilation and sheet metalworking services. Andreas Schmidt, the current managing director, will remain in his post at the company, which will continue to operate under its existing name. All employees will be retained.
The purchase price is to be settled in cash and by way of the buyer’s registered shares from authorised capital. To this end, around 20,000 registered shares are to be generated from authorised capital, while disregarding the subscription rights of the shareholders. Consequently, Burkhalter Holding Ltd’s Board of Directors will continue to be in a position to increase the company’s share capital at any time before 31 May 2024 as per the conditions set out in Art. 5A of the Articles of Association by issuing a maximum of around 400,000 fully paid-in registered shares (420,000 minus the around 20,000 newly-created shares). The first trading date for the newly-created registered shares will be at the end of February/beginning of March 2023.
The selling party has agreed not to sell the Burkhalter registered shares received from the sale for a period of two years (lock-up agreement). As a result, the registered shares are subject to a prohibition on disposal (blocking period).
With this acquisition, the Burkhalter Group is consolidating its presence in the canton of Thurgau. Gaining additional market share through the targeted acquisition of other building technology companies remains part of the Burkhalter Group’s strategy.
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