Hanza boosts LYNX program through acquisition of defense manufacturer
Headquartered in Finland, Milectria is a contract manufacturer of electrical systems for military vehicles, weapon systems and other products for demanding environments.
Hanza has signed an agreement to acquire the contract manufacturing division of Milectria, a group of companies focused on the defense sector. The transaction is a strategically important step in Hanza’s LYNX program, which aims to strengthen the company’s position in industries such as defense and security, according to a media release.
Headquartered in Finland, Milectria is a contract manufacturer of electrical systems for military vehicles, weapon systems and other products for demanding environments. Annual sales from the acquired units amount to approximately SEK 300 million (about 26 million euros) and the transaction adds approximately 300 new employees distributed across one production facility in Finland, two in Estonia and a unit for offset business in Abu Dhabi.
The acquisition comprises 100% of the shares in Milectria OY, 100% of the shares in the associated real estate company Kiinteistö Oy Kanungin Karhu, and 100% of the shares in Milectria OÜ.
The purchase price amounts to EUR 16.4 million, which on a cash and debt-free basis corresponds to an adjusted EBITA multiple of 4.9x for the rolling twelve months ending May 2025.
Closing is expected to take place in September 2025, subject to customary closing conditions, including regulatory approvals, and restructuring of the target companies to transfer the parts of the business that do not comprise contract manufacturing to companies controlled by the sellers, the media release said.
In March 2025, Hanza launched a special program, LYNX, with the aim of increasing the proportion of customers in the defense sector, while maintaining and strengthening capacity for other customer groups. The acquisition of Milectria is an important step in this initiative, as the Group gains four new units with specialist expertise in the defense industry, strengthening Hanza’s delivery capacity to both new and existing customers in the sector, Hanza said.
“The acquisition is a strategic milestone in our LYNX program,” said Erik Stenfors, CEO, Hanza. “We are facing rapidly increasing demand from the defense industry, and this gives us a dedicated platform while creating room for growth in other segments.”
“We look forward to becoming part of Hanza,” saidTomi Kaukonen, CEO, Milectria. “Together, we will create a strong, long-term offering for the defense industry, where our competencies, customer relationships, and manufacturing facilities complement each other perfectly.”
