Hanza acquires product development company in Germany
Swedish Hanza has acquired Budelmann Elektronik GmbH in Münster, Germany to meet an increasing demand, and to further strengthen the product development part.
Budelmann consists of a multidisciplinary team of 10 people with excellence in electronics, mechanics and software development. The company is headed by the technical doctor and professor Christoph Budelmann and his wife Jeannine Budelmann, who holds an international education in economics and culture from universities in Germany, France and China.
In 2022, we complete an extensive expansion program for our six manufacturing clusters. Thus, this deal is a natural next step; a strategic acquisition to meet the growing demand also in product development, says Hanza CEO, Erik Stenfors in the press release.
The company is located in Münster, close to Hanza's other operations in Germany, and is said to complement the company's existing product development team in Remscheid.
We are strengthening our various core competencies while offering our customers a unique manufacturing concept, says CEO Jeannine Budelmann, in the press release.
The acquisition is almost debt-free and has an annual turnover of approximately 15 MSEK. The purchase price for the shares is approx. 8 MSEK, with a further approx. 2 MSEK in the form of an additional purchase price. The acquisition only has a minor direct impact on HANZA's income statement and balance sheet.
Budelmann will change its name to Hanza Product Development Services GmbH.