HANZA expands in Germany - acquires EMS provider

"Our concept provides us with a good order intake in the Nordic markets and we have continuously strengthened HANZA's other manufacturing clusters," says Erik Stenfors, CEO of HANZA in a press release. "During the pandemic, we have been waiting for the German market to reopen. Now we have reached the starting point for expansion in Germany, and we are adding a modern electronics factory in line with our cluster strategy. The Swedish company already operates a production facility in Remscheid, Germany, which offers product development, final assembly and manufacturing of mechanics and electronics. The new production unit in Mönchengladbach is located approximately seven miles from Remscheid and contributes both competence and capacity within electronics manufacturing. The seller is the management of Beyer, who will remain in their positions and continue to operate the factory in accordance with HANZA's cluster concept. "We have kept a close dialogue for some time and have also visited HANZA's cluster in Sweden which has showed us the great benefits that exist with complete and local manufacturing," adds Wolfgang Beyers, CEO and former main owner of Beyers. “HANZA's combination of focus on business logic and focus on employee welfare, was ultimately the deciding factor. We look forward to contributing and becoming part of the HANZA Group.” Beyers is estimated to have sales of approximately EUR 18 million in 2021, which is a volume decline caused by the pandemic of approximately 10% compared with 2020. The result has also been negatively affected and the company currently operates at a zero margin. HANZA HANZA has acquired 100% of the shares in Beyers for a purchase price of EUR 2.7 million. Furthermore, there is an additional purchase price linked to an expected increase in sales from the current level for the financial years 2022 and 2023 and which can amount to a maximum of an additional EUR 2.5 million.