© Incap Electronics Production | January 23, 2020
Incap acquires AWS Electronics
EMS provider Incap has signed an agreement to acquire 100% ownership of AWS Electronics Group.
AWS Electronics Group is an EMS provider specialised in high complexity services with production facilities in the U.K. and Slovakia. Through the acquisition, Incap is widening its portfolio into the U.K and Central Europe as well as strengthening its position in areas such as USA and South-East Asia. The enterprise value of the transaction is GBP 13.5 million (EUR 15.9 million) and an additional earn-out of a maximum of GBP 1.3 million (EUR 1.5 million) based on the business performance over 2020, a press release reads. The signing and closing of the agreement were completed simultaneously. The acquired business recorded revenues of GBP 35 million (or about EUR 41 million) during its fiscal year 2019, EBITA was GBP 2.1 million (EUR 2.5) and operating profit ended up at GBP 1.5 million in 2019 (EUR 1.8 million). Some 436 employees at AWS Electronics' facilities in the UK and Slovakia are now joining Incap. After the acquisition, the AWS Electronics business units will continue to run its operations as independent units within Incap Corporation, the press release reads. The former owners of the company, Paul Deehan and Adrian Keane, are committed to support Incap over the transition period. “This acquisition will enable us to serve our customers even better. I am happy to welcome AWS Electronics team onboard to take the next steps on our growth path. AWS has been growing for many years and we see a strong fit with Incap. With this long-term, strategic acquisition we will strengthen our market position and balance our customer base. We are excited to widen our geographic presence and gain foothold in the U.K. and Central European markets,” says Otto Pukk, President & CEO of Incap.