Hanza's EMS cluster just got bigger
Swedish EMS provider Hanza has today announced the acquisition of Orbit One, a Swedish company that offers contract manufacturing of electronics and electromechanics in Sweden and Poland.
Orbit One operates in two production facilities in Sweden and one in Poland and has a total of approximately 620 employees, of which approximately 65 are engineers.
According to a company press release, Orbit One has a strong position in the Nordic market for contract manufacturing of electronics and electromechanics with a stable and diversified customer base. Orbit One has annual sales of approximately 1.1 billion SEK with an operating profit of approximately SEK 70 million.
The acquisition strengthens Hanza's manufacturing cluster in Sweden and Central Europe, adds capacity and expertise in electronics manufacturing.
"Orbit One is a respected colleague in the industry that has positioned itself as one of the leading electronics manufacturers. It is therefore with pride that we announce this acquisition that further develops Hanza's manufacturing cluster in Sweden and Central Europe in a very good way. The acquisition is also fully in line with our communicated strategy Hanza 2025," in the press release.
"Hanza is a good and long-term new owner with the strength and ability to continue developing Orbit One. We complement each other in an excellent way and the merger creates one of the Nordic region's most competitive contract manufacturers. Furthermore, Hanza, like Orbit One, places great emphasis on creating a good corporate culture with sustainable and sound values. This has been an important factor in the choice of a new owner," says Orbit One's board member and co-owner, Mats Johansson in the press release.
"Hanza's unique manufacturing concept together with Orbit One's leading position in electronics manufacturing is a perfect combination. Together we will be able to develop and expand our businesses and become even stronger in our industry. This deal is good for both our customers and our employees," says Orbit One's CEO Mattias Lindhe in the press release, who will continue in the Hanza group.
The purchase price for the shares depends on the financial statements for November 2023 and is estimated to 367 million SEK. In addition, there is an additional purchase price based on the company's performance in 2024, which is only due in the event of an improvement in earnings compared to 2023, and which is maximized at SEK 91 million.
Closing is subject to regulatory approvals, which are expected to be received by early January 2024 at the latest.
The acquisition is expected to have a significant positive impact on the Group's financial targets for 2025.