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Beijer Electronics Group acquires Swiss company Neratec
The business entity Westermo of Swedish Beijer Group has acquired 100% of Swiss company Neratec Solutions AG, a technology company specialised in WLAN products.
Neratec has about 25 employees and sales of approximately CHF 6,5 million (EUR 5.8 millon) in 2018 with a good profitability and its operations is in Bubikon in Switzerland. “The acquisition of Neratec will strengthen Westermo’s offering to the Railway industry to include a strong wireless portfolio that we can channel via our worldwide sales network. Neratec in Switzerland will be our technology centre for industrial WLAN products within Westermo” says Jenny Sjödahl, CEO of Westermo, in a press release. “We are excited to join Westermo and BEIJER GROUP. Our complementary technologies will create a very strong offering to the industry and Westermo’s worldwide sales organization will ensure a global market access” adds Jussi Harju, Managing Director of Neratec Solutions. “I am pleased that we today announce this first complementary acquisition to the business entity Westermo. Since the new strategy put in place 2016, we have proven our ability with high profitable organic growth and now we start to add on with acquisitions” says Per Samuelsson, President and CEO of BEIJER GROUP. The purchase price amounts to CHF 5 million on a cash/debt-free basis and is paid in cash. A smaller performance-based consideration will be paid later if certain criteria are met.
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