Noda welcomes investment by Latour
SWEDEN – NODA, a Swedish company specialising in intelligent energy systems, has announced that it is expanding its ownership base and has welcomed the mixed investment company Investment AB Latour as a new shareholder.
In a statement released yesterday confirming the new investment, NODA Intelligent Systems AB revealed that it had completed a directed share issue in a bid to strengthen the company in its ongoing international expansion. The deal saw Investment AB Latour (publ), through its business arm Latour Industries, sign an agreement to acquire 11% of NODA. Latour industries were not the only company to avail of the decision as NODA’s principal owner, the Sixth AP fund, also participated in the share issue along with several other current shareholders. Despite the share issue, NODA took the opportunity to confirm that it will continue to be a stand-alone company and the present management will remain responsible for the operations.
In a press statement, Patrick Isacson, CEO of NODA, declared “In our vision to take a leading role in designing the new sustainable smart energy landscape, our core strategy is to put NODA in a larger context. That goes from how we research and develop, where we do business, how and with whom we do it, what market contexts we choose, why we do it, and all the way down to how we manage and run our company.” Mr Isacson ended his brief statement, saying “When we now gear up expansion and growth, by broadening our portfolio and entering new markets, putting NODA into a larger industrial context with an owner as Latour is of great value for us”
“We are excited for this opportunity to take an active part in NODA’s promising journey”, continued the CEO of Latour Industries, Björn Lenander. “This investment is in line with our current strategy to build a portfolio of companies active in building energy management systems, which we have identified as a strategic growth area for Latour. We look forward to cooperate with the Sixth AP fund and the other owners and continue NODA’s expansion both in Sweden and internationally.”
Following the investment, NODA has now nominated Björn Lenander of Latour Industries as a new member of its board.