Electronics Production | December 03, 2007
Hanzas Elektronika acquires Elektromekan
Latvia based EMS provider Hanzas Elektronika has acquired Swedish based EMS provider Elektromekan.
Hanzas Elektronika is headquartered in Ogre, Latvia. One of the principal owners in Hanzas Elektronika is Åke Hörnell, through his company Hörnell Teknikinvest AB. Other owners are the private equity investor BaltCap Management as well as the company’s founder and managing director, Ilmars Osmanis. Westergyllen is selling the Elektromekan i Årjäng AB subsidiary to Hanzas Elektronika SIA. The sale generates a capital gain for Westergyllen of approximatly € 300 000 and a cash contribution of approximatly € 3,5 million.