Veraison is pleased with the further progress made by VT5 in its search for a target company and supports the business combination proposed by VT5’s Board of Directors with the R&S Group, a supplier of transformers in Switzerland and selected European markets.
According to the information published by VT5 last Wednesday, the company generated sales of CHF 155 million in 2022. In the first nine months of 2023, the order backlog increased by 40% and sales by 49%, while profitability increased significantly in 2023 (EBITDA margin of 18.7% and EBIT margin of 17.6%).
The R&S Group expects to benefit from strong market momentum as a result of the energy transition due to the increasing demand for electrification and the decentralization and modernization of energy grids. Being on the stock market will enable R&S Group to address a broader investor base and make greater use of the organic and inorganic growth opportunities that present themselves.
VERAISON will vote in favour of the proposed business combination with R&S Group at the upcoming shareholder meeting. For portfolio reasons, VERAISON will tender 1.88m shares as part of the buyback offer.
After tendering the above-mentioned shares, VERAISON remains a significant shareholder of R&S Group with 1.88m shares and 8% of the voting rights (based on the current number of shares issued).
