ElektronikGruppen køber Cyncrona
ElektronikGruppen køber Cyncrona-gruppen af virksomheder og styrker dermed aktiviteterne inden for produktionsudstyr og tilknyttede services (in english).
ElektronikGruppen acquires OEM International’s production equipment division ElektronikGruppen BK AB has signed an agreement with OEM International AB to acquire the operations in OEM’s Production Technology Division.
The division consists of the Cyncrona group of companies, which market production equipment and support services for the electronics industry with an annual turnover of around SEK 60 M. The acquisition is expected to be completed in May with the transfer of ownership on 1 June 2010.
- The change of ownership will give Cyncrona an opportunity to develop together with ElektronikGruppen’s operations in the same area. The acquisition will strengthen ElektronikGruppen’s position in production equipment for the electronics industry in the Nordic market, says Fredrik Celsing, President and CEO of ElektronikGruppen.
The acquired units will be integrated into the Scanditron group, which makes up ElektronikGruppen’s Production Technology business area. Scanditron sells production equipment, consumable materials, support and training services for electronics production and has operations in Sweden, Finland, Denmark, the Baltic countries and Poland. The business area posted annual sales of SEK 110 M in 2009.
The transaction is conditional on the fulfilment of certain conditions, such as the approval of the Swedish Competition Authority. The acquisition is an asset deal in which ElektronikGruppen will acquire inventories, equipment and intangible assets such as brands, Internet domains, customer and supplier agreements, etc. The majority of employees in Cyncrona will be offered continued employment in ElektronikGruppen.
The purchase price amounts to approximately SEK 6 M plus conditional consideration based on the contribution margin in the acquired operations over the next two years. The integration costs are expected to amount to a maximum of SEK 2 M, which means that the acquisition is awaited to have a marginal positive impac on ElektronikGruppen’s earnings for the current year.
