Hanza completes the acquisition of Orbit One
Swedish Hanza has today January 4, completed the acquisition of Orbit One, a Swedish contract manufacturer of electronics and electromechanics with factories in both Sweden and Poland.
It was back i early December 2023, that Hanza entered intoan agreement to acquire all shares in Orbit One AB. The access was conditional on regulatory approvals, which have now been obtained, and deal has been completed.
Orbit One has an annual turnover of approximately SEK 1.1 billion with an operating profit (EBITA) of approximately SEK 70 million. The HANZA group thus achieves pro forma annual sales of approximately 5.2 billion SEK with an operating margin of approximately 7.7%.
The purchase price amounts preliminarily to SEK 367 million. However, the purchase price is dependent on the financial statements for November 2023 and a possible adjustment of the amount will be made when the financial statements are adopted. In addition, there is an additional purchase price that begins to be paid only in the event of an improvement in earnings in 2024 compared to 2023.