Encitech Connectors acquired by Beijer Tech
Weibull M&A was the sell side advisor when Beijer Alma’s subsidiary Beijer Tech entered into an agreement today (March 5) to acquire the shares in Encitech Connectors AB in Halmstad.
The company is a Swedish manufacturer and distributor of electronic components for the industrial sector, with revenues of approximately MSEK 50 and favorable profitability. Half of the company’s revenues are derived from proprietary products and 70 percent of its products are exported to customers in some 20 different countries.
Beijer Tech AB is a Nordic industrial trading group with revenue of approximately EUR 100M and is one of three divisions within Beijer Alma AB (publ). Beijer Alma AB has a market cap of approx. EUR 750 million, with more than 50% of the votes controlled by Mr. Anders Wall with family and foundations. Beijer Alma acquires companies with a long-term ownership perspective and significant parts of the profits generated by the group are donated to research, culture and education through the Anders Wall Foundations.
Beijer Tech’s President, Staffan Andersson, commented on the transaction: “I’m pleased that we have acquired this profitable and well-managed company which offers ample growth opportunities. We look forward to developing the company further together with its previous owners.”
Beijer Alma’s CEO, Henrik Perbeck, commented on the transaction: “Through this acquisition, Beijer Tech is showing new opportunities for profitable growth. Beijer Tech serves as a platform for acquisitions and is a good home for industrial manufacturing and trading companies.”