Nolan’s Notes: Everyone Has Their Eye on India
Standard of Excellence: The Human Touch in an Automated World
The Government Circuit: Navigating New Trade Headwinds and New Partnerships
Efore Completes Acquisition of Shares of Powernet International
December 31, 2018 | Globe NewswireEstimated reading time: 1 minute
Efore Plc has completed the acquisition of the entire share capital of Powernet International Oy, a company specializing in the development and manufacture of customer specific power supplies and systems. The acquisition further shifts Efore’s focus towards higher value-added products and solutions. Efore’s Systems business and Powernet form a strong platform based on Finnish know-how dating back years, on which Efore can build new and growing business.
Starting in 2019, Efore’s Systems business and Powernet International Oy will form a new business line in the Industrial business area. Powernet’s current CEO Heikki Viika will be nominated as the executive vice president of the new business line and he will be a member of the Efore group management team.
Powernet, founded in 1992, develops and manufactures customer specific power supplies and systems. Examples include customized power supply and power distribution packages as well as turnkey project deliveries to the train industry and others. Powernet has also been a forerunner in the development of IoT enabled condition monitoring of power supply and power distribution packages, which is utilized in applications such as smart battery chargers. Well recognized especially in the North and Central Europe, Powernet has 30 employees. In financial year 2017 Powernet's turnover was EUR 9.7 million and EBITDA EUR 0.9 million.
The purchase price on a cash and debt free basis (enterprise value) is EUR 4.5 million and the purchase price for the shares at closing of the transaction is EUR 2.5 million. Additionally, the parties have agreed on an earn-out. The maximum amount of the earn-out is EUR 1.5 million and may be paid based on Powernet Group’s consolidated sales margin for financial year 2019.
Share on:
Testimonial
"The I-Connect007 team is outstanding—kind, responsive, and a true marketing partner. Their design team created fresh, eye-catching ads, and their editorial support polished our content to let our brand shine. Thank you all! "
Sweeney Ng - CEE PCBSuggested Items
Defense Speak Interpreted: If CHIPS Cuts Back, What Happens to Electronics Packaging Funds?
09/02/2025 | Dennis Fritz -- Column: Defense Speak InterpretedIn my May column, I examined the topic of the CHIPS Act and its current status as a U.S. government program. I found that CHIPS activities continue, but some corporations have delayed or canceled them because of budget cuts or corporation-specific problems. However, CHIPS integrated circuits—mostly administered by the Department of Commerce—don’t fully drive the electronics interconnection activity being funded by the government. Let’s cover the progress/status of other programs:
Ecolab to Acquire Ovivo’s Electronics Ultra-Pure Water Business
08/15/2025 | EcolabEcolab Inc. has entered into a definitive agreement to acquire Ovivo’s Electronics business, a leading and fast-growing global provider of breakthrough ultra-pure water technologies for semiconductor manufacturing.
Eltek Ltd. Reports Strong Second-Quarter 2025 Results
08/14/2025 | PR NewswireEltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the quarter ended June 30, 2025.
Magnachip Semiconductor Announces YJ Kim to Step Down as CEO; Current Board Chairman Camillo Martino Appointed Interim CEO
08/14/2025 | PR NewswireMagnachip Semiconductor Corporation today announced that YJ Kim has agreed to step down as CEO and as a member of the Board of Directors, effective immediately. Camillo Martino, Chairman of the Board of Directors, has also been appointed Interim Chief Executive Officer, effective immediately.
Amidst U.S. Strategy Shift, Foxconn Sells Lordstown, Ohio Plant for $88 Million
08/07/2025 | I-Connect007 Editorial TeamAs part of a strategic shift in its US operations, Taiwan-based Foxconn (Hon Hai Precision Industry’s) subsidiaries are selling off assets at its Lordstown, Ohio, facility, the company announced on Aug. 4.