In this Research Note, we examine the Bemsiq AB business, based on their 2023 financials, investor presentations, annual report of their parent company and the development of their buy and build strategy. For a detailed review of their building automation brands, see our previous article in September 2023. Bemsiq, with headquarters in Gothenburg, Sweden, consists of a group of 7 companies and 519 employees providing building automation field devices including HVAC sensors, transmitters, and room controllers (78% of 2022 revenues) and energy metering products, including gateways, communication modules and IoT sensors. The group is a separate business area within Investment AB Latour, the listed Swedish mixed investment group. Bemsiq 2023 Financials Bemsiq reported 2023 revenues of SEK 1,583 million (around USD $151 million), a 7.3% increase in organic growth versus the prior year, and an operating margin of 23.1%. Latour Group 2023 Results Presentation, 12 February 2024 Eelectron Spa Acquisition On 15th January 2024, Investment […]