HANZA expands in Germany - acquires electronics manufacturer
HANZA Holding AB (publ) has acquired Helmut Beyers GmbH (“Beyers”), an electronics manufacturer in Mönchengladbach, Germany, with approximately 150 employees. The deal marks a restart for the expansion in Germany, which was temporarily put on hold during the pandemic.
HANZA already has a production facility in Remscheid, Germany, which offers product development, final assembly and manufacturing of mechanics and electronics. The new production unit in Mönchengladbach is located approx. 7 miles from Remscheid and contributes both competence and capacity within electronics manufacturing.
"Our concept provides us with a good order intake in the Nordic markets and we have continuously strengthened HANZA's other manufacturing clusters," says Erik Stenfors, CEO of HANZA. "During the pandemic, we have been waiting for the German market to reopen. Now we have reached the starting point for expansion in Germany, and we are adding a modern electronics factory in line with our cluster strategy.
The vendor is Beyers’ management, who will remain in their positions and continue to operate the factory in accordance with HANZA's cluster concept.
"We have kept a close dialogue for some time and have also visited HANZA's cluster in Sweden which has showed us the great benefits that exist with complete and local manufacturing," says Wolfgang Beyers, CEO and former main owner of Beyers. “HANZA's combination of focus on business logic and focus on employee welfare, was ultimately the deciding factor. We look forward to contributing and becoming part of the HANZA Group.”
Information about the transaction and financial information
HANZA has acquired 100% of the shares in Beyers for a purchase price corresponding to the equity in the company, which according to preliminary financial statements amounts to EUR 2.7 million. Furthermore, there is an additional purchase price linked to an expected increase in sales from the current level for the financial years 2022 and 2023 and which can amount to a maximum of an additional EUR 2.5 million. Transaction and integration costs are estimated to total approximately SEK 10 million, which are mainly expected to be charged to the fourth quarter of 2021.
Beyers is estimated to have sales of approximately EUR 18 million in 2021, which is a volume decline caused by the pandemic of approximately 10% compared with 2020. The result has also been negatively affected and the company currently operates at a zero margin. Beyers contributes competence and capacity in the so-called EMS area, which is an important prerequisite for HANZA's continued expansion. The acquisition of Beyers is expected to have a positive effect on the Group's growth and profitability during 2022.
For further information regarding the acquisition, a presentation will shortly be available on our website www.hanza.com/en
For further information please contact:
Erik Stenfors, CEO, Tel: +46-709 50 80 70, e-mail: erik.stenfors@hanza.com
Lars Åkerblom, CFO, Tel: +46-707 94 98 78, e-mail: lars.akerblom@hanza.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 18.00 (CET), October 25, 2021. Important information 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.
About HANZA:
HANZA is a knowledge-based global manufacturer that modernizes and streamlines the manufacturing industry. Through supply-chain advisory services and our own factories grouped into regional manufacturing clusters, we offer secure deliveries, increased profitability and sustainable manufacturing solutions for our customers.
HANZA was founded in 2008 and has since 2019 had sales exceeding SEK 2 billion. The company has production units in seven countries; Sweden, Finland, Germany, Estonia, Poland, the Czech Republic and China. Among our clients are leading product companies such as ABB, Epiroc, GE, Getinge, Oerlikon, Saab and Siemens.
HANZA is listed on Nasdaq Stockholm's main list (ticker: HANZA).
For more information please go to: www.hanza.com
