Burkhalter Holding AG completed the acquisition of Riggenbach Ag, Luftungs- Und Klimatechnik.
July 05, 2023
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Burkhalter Holding AG (SWX:BRKN) signed a purchase agreement to acquire Riggenbach Ag, Luftungs- Und Klimatechnik on June 29, 2023. The purchase price is to be settled in cash and by way of the buyer?s registered shares from the recently created capital band. Burkhalter will acquire Riggenbach's branches in Brugg and Solothurn. All employees will be kept on and the Riggenbach's name will remain the same. Riggenbach employs around 160 people. The sellers of Riggenbach AG, Lüftungs- und Klimatechnik, have agreed not to sell two thirds of the Burkhalter registered shares received from the sale for a period of two years. In 2022, Riggenbach generates revenue around CHF 40 million. The transaction is expected to closed in July 2023.
Burkhalter Holding AG (SWX:BRKN) completed the acquisition of Riggenbach Ag, Luftungs- Und Klimatechnik on July 6, 2023. As part of its acquisition of all shares in Riggenbach AG, Lüftungs- und Klimatechnik, the Burkhalter Group pledged to pay a portion of the purchase price in listed Burkhalter Holding Ltd registered shares. To this end,148,774 registered shares are to be generated from the capital band. As of August 29, 2023, Burkhalter completed the issue of 148,774 shares to finance this transaction.
Burkhalter Holding AG is a Switzerland-based company engaged in the distribution and installation of electrotechnical and telecommunication engineering systems. It directs its offering at the construction industry. The Company operates through the electric engineering segment, divided into six service areas: Installations, covering the electric installations and systems in residential and commercial properties, as well as industrial plants; Switchboards, providing the development, planning and montage of bespoke switchgears; Services, engaged in the maintenance of the installed systems and installations; Telematics, active in the field of cabling, information technology (IT) networks, client server systems and Voice over Internet Protocol (VoIP) solutions; Automation, which covers the design, planning, programming and implementation of industrial automation processes, and Security, providing security solutions, such as access control, fire protection and video surveillance.