HANZA acquires KA Elektronik
HANZA Holding AB (publ) has today acquired all shares in KA Elektronik AB, an electronics manufacturer that in 2013 had sales of 75 MSEK with an operating profit (EBIT) of 4.9 MSEK.
The company will be included in HANZAs Electronics Division as of today. The acquisition is expected to have a positive impact on HANZAs earnings per share.
KA Elektronik Åtvidaberg started in 1990 with the mission to produce electronics in the prototype, pre-series, small and medium volumes in a cost effective manner. The company was certified for ISO 9001, 14001 in 2004, and currently has approximately 50 employees in Åtvidaberg.
"KA Elektronik is a growing, well-managed and profitable company, with a strong customer portfolio," said Erik Stenfors, President and CEO HANZA. "The deal is developing HANZAs electronics manufacturing, and is a great addition to HANZA Group. We welcome our new employees and shareholders. "
"HANZA has a modern business model and have created a new, improved offer for customers by breaking the boundaries between different manufacturing technologies.", said Thomas Lundell, chairman and partner of KA Elektronik. "We appreciate that we will develop KA Elektronik faster and more efficient by being part of HANZA Group".
The purchase price consists of a part in cash a part in shares. For the share part, HANZA makes an non-cash issue of 400,000 shares to the sellers of KA Elektronik. The non-cash issue is done with the support of a resolution authorizing the AGM and increases the number of shares in HANZA from 7,243,920 to 7,643,920. Out of the total number of shares in HANZA, 437,630 shares are owned by HANZA through subsidiaries. The share capital increases with SEK 40 000 and amounts to, after the issue, 764 392 SEK. HANZA adds about 8.0 MSEK in equity through the deal. The new shares are entitled to dividends as of the date registered.
HANZA has its own production units in five technology areas; machining, sheet metal mechanics, cable harnesses, PCB assembly and system assembly, and create growth and profitability for product-owners that develops and sells products through effective manufacturing solutions. In a few years, HANZA has grown into a leading international company through organic growth and acquisition of so-called "turn-around" companies. Following the listing on First North Premier last spring, the strategy is now to acquire profitable businesses.
For more information please contact:
Erik Stenfors, CEO HANZA, Mobile: 0709-50 80 70, e-mail: firstname.lastname@example.org
Thomas Lundell, Chairman of the Board KA Elektronik, Mobile: 0708-664 558, e-mail email@example.com
The information in this press release is such that HANZA must disclose it in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 12.30 pm (CET), November 5, 2014. Avanza Bank AB is the company's certified adviser.
This press release may contain certain forward-looking statements that reflect HANZA’s current views of future events and financial and operational performance. Words such as "intends", "anticipates", "expects", "may", "plan ", "anticipate" or similar expressions regarding indications or predictions of future developments or trends, and are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking statements are not guarantees regarding future results or developments and actual results may differ materially from those set forth in forward-looking information.
HANZA is a fast growing industrial business partner within manufacturing. The company lowers customer costs by supplying complete manufacturing solutions in mechanics, electronics, cables and final assembly. HANZA was founded in 2008 and has grown into a SEK billion company. The Company currently operates in Sweden, Finland, Estonia, Poland, Slovakia and China. Among HANZA's clients there are leading industrial companies such as Atlas Copco, Ericsson, ABB and Saab Defense. www.hanza.com