Kitron to acquire DeltaNordic, expanding Its defence electronics business
Norway’s Kitron has agreed to acquire the Swedish electronics manufacturer DeltaNordic AB, marking a significant expansion of its presence in the defence sector and its footprint in the Swedish market.
DeltaNordic supplies advanced electronics and electrical systems for defence customers as well as for mining, construction and infrastructure applications. The company operates two production sites in Sweden and another in Nanjing, China. Revenues are projected to reach about SEK 815 million (EUR 74 million) in 2026, with roughly half derived from defence clients — a share that Kitron expects will continue to grow.
“DeltaNordic has established itself as a reputable supplier of robust electronics and advanced electrical systems for defence and other demanding sectors such as mining, construction, and infrastructure. These markets are expected to drive significant growth, with a three-year outlook exceeding SEK 3.4 billion. Given DeltaNordic’s strong growth trajectory, we are confident this transaction will be earnings accretive and create substantial value for Kitron shareholders,” says Peter Nilsson, CEO of Kitron, in a press release.
DeltaNordic’s CEO, Rickard Vahlberg, said the company sees clear synergies in joining a Nordic EMS group with a similar focus on complex, high-cost-of-failure systems. “Together, we can leverage our combined strengths to unlock new opportunities for DeltaNordic,” he said.
Under the agreement, Kitron will acquire all shares in DeltaNordic from Mind Industrial Group AB and JSLS Holding AB. The deal carries an enterprise value of SEK 1.255 billion (EUR 114 million) on a debt- and cash-free basis.
Regulatory approval is still required from both the Swedish Competition Authority and the Swedish Inspectorate of Strategic Products. Closing is anticipated either late December 2025 or early in the new year.
Kitron said the deal will strengthen its position in the Defence & Aerospace sector and widen its reach in Sweden, a NATO member with an active defence technology industry. DeltaNordic’s capabilities in designing and producing electronics for harsh and mission-critical environments are expected to enhance Kitron’s offering in design, prototyping and complex system manufacturing. The companies have limited customer overlap, which Kitron believes will provide fresh avenues for growth.