Sun4Energy Group AB (publ) (NGM:SUN4) entered into an agreement to acquire Atum Energi AB for SEK 8 million on March 21, 2022. The consideration will be paid in combination of approximately SEK 2.24 million cash and issue of 291,413 common shares of Sun4Energy Group. Furthermore, upon achieving certain turnover targets, Atum Energi shareholders will be entitled to receive additional purchase price of a maximum of 50% of Sun4Energy's EBIT for 2022 and 2023 respectively.

In 2021, Atum Energi had a turnover of approximately SEK 8.6 million and an EBITDA of approximately SEK 0.052 million. The acquisition is expected to take place at the beginning of April 2022. Atum Energi is expected to achieve a turnover exceeding SEK 14 million in the full year 2022. The transaction will have synergy effects in operational coordination gains as well as market synergies with already existing operations. Eversheds Sutherland Advokatbyrå AB acts as legal advisor to Sun4Energy in connection with the transaction.

Sun4Energy Group AB (publ) (NGM:SUN4) completed the acquisition of Atum Energi AB on April 1, 2022.