Hanza completes acquisition of Milectria
Sweden EMS provider Hanza has completed the acquisition of Milectria, a contract manufacturer of electrical systems for the defence industry. The acquisition is described as an important step in Hanza's LYNX program and strengthens the group's capacity and geographical presence.
Hanza's launched its LYNX program earlier this year with the aim of accelerating growth in the defence and security industry, while also securing capacity for other customer segments. The acquisition of Milectria creates a dedicated platform to meet volume increases in these areas.
Milectria has approximately 300 employees and operations in Finland, Estonia, and Abu Dhabi. The deal adds four new production units with highly specialised expertise that strengthen and complement Hanza. A business unit with proprietary products has been excluded from the deal and will be retained by the sellers. As these products have been manufactured in Milectria's factories and will now be relocated, significant capacity will be freed up for contract manufacturing.
The purchase price amounts to EUR 17.1 million, corresponding to approximately SEK 190 million. At the time of acquisition, Milectria had a turnover of just over EUR 30 million. An additional purchase price of up to EUR 18 million may be payable, based on sales growth during the period 2025–2027, which assumes that Milectria will more than double its sales during this period.
“The acquisition is a milestone in our LYNX program. It strengthens our capacity to meet increased volumes from the defence industry, while also handling growth in other industries. It is also a matter of Europe's security; our continent needs to rapidly increase its capacity for advanced defence products. The LYNX program is our contribution to this,” says Erik Stenfors, CEO of Hanza, in a press release.