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© HASEC Elektronik GmbH Electronics Production | May 23, 2019

Scanfil acquires German EMS provider

Finnish EMS provider, Scanfil, says that it has signed an agreement with owners of German contract manufacturer HASEC-Elektronik GmbH to acquire the entire shareholding of HASEC.

Scanfil will pay EUR 10.25 million for the German manufacturer and will finance the acquisition using its liquid assets and directing a share issue to the owners of HASEC. The part of the shares in the purchase price is EUR 2.2 million, which equals 544.554 Scanfil’s shares measured in March 2019 the average stock price. With this acquisition Scanfil strengthens its footing on the German market and widens its customer base. Founded backin 1991 HASEC has about 200 employees and operates from a production site in Wutha-Farnroda in near Eisenach, central Germany. The company's turnover in 2018 was EUR 37.1 million
Petteri Jokitalo CEO of © Scanfil
"This acquisition will give a significant boost to Scanfil’s growth strategy by bringing in remarkable new customers and further strengthening our market position in Germany and wider in Central Europe. Scanfil and HASEC together will create an attractive EMS partner for German and Central European customers with strong local factory presence, design capability and access to global factory network and supply chain,” says Petteri Jokitalo, CEO of Scanfil. In a press release. “HASEC has long-term relationships with its large amount of customers and an established position as a high-mix, low-volume manufacturer and complex systems integrator. Scanfil’s existing Hamburg factory will complement HASEC’s offering in Germany and in addition Scanfil’s global factory network will benefit HASEC’s customers,” Mr Jokitalo adds. As per usual, the acquisition is subject to customary closing conditions such as merger control filing and is expected to be finalised when customary closing conditions are met. Scanfil expects to close the acqusition during the second quarter of 2019.
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October 11 2019 3:09 pm V14.5.0-1