© Inission Onrox Electronics Production | June 14, 2016
New major EMS player emerges on Nordic market
Inissions strategy is to grow through acquisitions, and thus become one of the larger EMS players in the Nordic region.
The company has acquired four companies in just four year, and now, Inission is making its biggest deal to date by acquiring Onrox Group. With Onrox in its stable, Inission's annual turnover goes from SEK 340 million (EUR 36 million) to well over SEK 600 million (EUR 64 million). The Onrox Group consists of the Swedish units Onrox Group Malmö AB and Onrox Group Borås AB – Onrox Group Malmö AB also owns the Danish sales company Onrox ApS. The acquisition beefs up the company with bigger muscles, broader skill level and increases its flexibility. Onrox will have access to production capacity in the Baltic region through Inissions factory in Tallinn and Inission is complemented by a substantial increase in capacity and expertise. Börje Nilsson, CEO Onrox Group said: "Of all the interested parties, I think Inission is clearly the most suitable, we have a common view on many things. Cooperation before the acquisition has worked perfectly and we also have fun working together. I am therefore convinced that our existing customers will see the new owner exclusively positive." Fredrik Berghel, CEO Inission commented: "We have a very positive integration project currently underway in Stockholm where Inission Triab and Inission SKEAB are being merged. The new Stockholm unit will not be any ordinary factory but a next-generation designs factory. Integration in Stockholm has been received positively by the market, and now we of course hope for the same positive trend in Gothenburg and Malmö." He continued saying that: "We will immediately start a pilot study for a possible co-location, but we need to plan it thoroughly out of respect for our customers. Customers should as far as possible be involved in the process making sure that significant improvements are implemented. The industry is in consolidation and Inission wants to be an active player in that process. The challenge is to grow with good profitability, which we have already proved that we can. Now we apply our model to Onrox to ensure a good quality and good profitability." The purchase price for the acquisition of Onrox Group amounts to SEK 40 million (EUR 4.28 million), the entire purchase price has been paid in cash on the date of transaction. Picture: From the left. Fredrik Berghel, Olle Hulteberg and Peter Svensson.