Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© hanza
Electronics Production |

Hanza acquires Metalliset Group

Swedish EMS-provider Hanza Holding has as entered into an agreement regarding the acquisition of all outstanding shares in Metalliset Oy, a parent company in a manufacturing group with a turnover of a roughly EUR 40 million.

The total purchase price amounts to some EUR 7.47 million, of which a substantial part consists of new shares in Hanza. Therefore, the board of directors intends to carry out an issue of new shares to the current shareholders of Metalliset, corresponding to roughly 15 % of the total shares in Hanza, in connection with the acquisition. Further, a fully guaranteed rights issue of SEK 50 million (EUR 5.34 million) will be carried out in order to finance the acquisition and capitalize the new group. Metalliset provides mechanical manufacturing and has approximately 500 employees in Finland, Estonia, the Czech Republic and China. Through the acquisition Hanza creates a group with a turnover of about EUR 160.26 million and a profitability which is considerably higher than the current level. “Metalliset is a very well-managed enterprise and the acquisition is an important step in the development of HANZA”, says Erik Stenfors, CEO of HANZA. “Our opinion is that there are great synergies to be obtained in relation to our existing mechanical division and the direction management of Metalliset has a market leading competence within the industry field and will work actively in the integration phase. Through the acquisition we will create a profitable and financially stable group, with the most modern business model on the market.” “We are happy with this deal which provides great opportunities for the Metalliset group going forward”, says Matti Hirvonen, CEO of Metalliset. “HANZA’s developed business model towards complete manufacturing and manufacturing solutions creates new possibilities for Metalliset’s customers”.

Ad
Ad
Load more news
March 28 2024 10:16 am V22.4.20-2
Ad
Ad