HMS Networks divests the MB Connect Line
HMS Industrial Networks GmbH, a wholly owned subsidiary of the HMS Networks AB group, has entered into binding agreement to divest all shares in Red Lion Europe GmbH, located in Dinkelsbühl, Germany for a cash consideration of EUR 5 million.
Red Lion Controls Europe GmbH is a manufacturer of secure remote access and industrial IoT and security products currently sold under the MB Connect Line brand. The rationale for the divestment is to streamline the global offer of remote access, remote data and remote monitoring solutions under the Ewon brand, a press release reads.
Business operations will be continued by the company's long-standing managers. The business today employs about 30 people with new sales of EUR 5 million for the twelve-month-period ending September 30, 2024.
“We are thankful for the contribution made by the team at Red Lion Controls Europe GmbH during our short period of ownership and wish them all the best for the future.” says Staffan Dahlström, CEO of HMS in the press release.
Closing of the transaction is expected to take place within two months.
