Scanfil EMS OY acquires Schaltex Systems GmbH

The purchase price is about EUR 6.6 million, and Scanfil EMS Oy will finance the acquisition using its liquid assets. The transaction comes into effect immediately, and the acquired business will be incorporated into Scanfil's consolidated financial statements from 1 April 2014. This acquisition strengthens Scanfil’s position in the German market and widens its customer base. Founded in 1976, Schaltex Systems GmbH (“Schaltex”) is a specialized high-mix, low-volume electronics manufacturing services company based in Germany. It employs a staff of 80 and operates from a production site in Schenefeld near Hamburg. Schaltex focuses on the value-added assembly of complex systems and test field operations, primarily serving customers in the life sciences and analytical instrumentation markets. The company's net sales of the financial year ended in 2013 were EUR 20.8 million. The acquisition is expected to positively impact Scanfil Group’s sales and operating profit from 1 April 2014. Scanfil estimates now that its turnover for the year 2014 will increase by 11-18% and that the operating profit for the year will reach EUR 11.0-15.0 million. Scanfil earlier estimated that its turnover for 2014 will increase by 4–10% and that the operating profit for the year will reach EUR 10.0-14.0 million. "Profitable growth is one of our main targets. This acquisition will give a significant boost to Scanfil’s growth strategy by bringing in remarkable new customers and strengthening our market position in Germany, maybe the most important market in the EMS industry in Europe. We also see synergy benefits in process development, sourcing and IT. Schaltex has long-term relationships with its customers and an established position as a high-mix, low-volume manufacturer and complex systems integrator. The production capacity of Scanfil’s facilities in Estonia, Finland, Hungary and China will, in turn, benefit Schaltex’s customers.”, says Petteri Jokitalo, CEO of Scanfil.