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HANZA Acquires Product Development Company in Germany
July 5, 2022 | HANZAEstimated reading time: 1 minute
To meet an increasing demand, HANZA AB has acquired Budelmann Elektronik GmbH in Münster, Germany. The deal underlines the unique width of HANZA's offer.
HANZA AB is a contract manufacturer offering regional and complete manufacturing in six manufacturing clusters. In addition, HANZA offers advisory services that optimize customers' supply chains, and product development.
To further strengthen the product development part, HANZA has today acquired Budelmann, which consists of a multidisciplinary team of 10 people with excellence in electronics, mechanics and software development. The company is headed by the technical doctor and professor Christoph Budelmann and his wife Jeannine Budelmann, who holds an international education in economics and culture from universities in Germany, France and China.
"Our mission is to continuously increase our customers' competitiveness," says Erik Stenfors, CEO of HANZA. "Successful customers are the key to HANZA’s amazing growth journey. Recently we reported that we had passed SEK 3 billion in sales over a 12-month period, with good earnings. In 2022, we complete an extensive expansion program for our six manufacturing clusters. Thus, this deal is a natural next step; a strategic acquisition to meet the growing demand also in product development."
Budelmann will change its name to "HANZA Product Development Services GmbH" and will be a central resource for all HANZA customers. The company is located in Münster, close to HANZA's other operations in Germany, and complements HANZA's existing product development team in Remscheid.
The deal also creates added value for Budelmann's existing customers. "We are strengthening our various core competencies while offering our customers a unique manufacturing concept," says CEO Jeannine Budelmann.
The acquisition is almost debt-free and has an annual turnover of approximately 15 MSEK. The purchase price for the shares is approx. 8 MSEK, with a further approx. 2 MSEK in the form of an additional purchase price. The acquisition only has a minor direct impact on HANZA's income statement and balance sheet.
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