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HANZA Completes the Acquisition of Orbit One
January 8, 2024 | HANZAEstimated reading time: 1 minute
HANZA AB has today, January 4, completed the acquisition of Orbit One AB, one of the Nordic region's leading contract manufacturers of electronics and electromechanics with factories in Sweden and Poland.
On December 1, 2023, HANZA signed an agreement to acquire all shares in Orbit One AB. The access was conditional on regulatory approvals, which have now been obtained, which is why the deal has been completed and HANZA has taken possession of the company.
Orbit One has an annual turnover of approximately SEK 1.1 billion with an operating profit (EBITA) of approximately SEK 70 million. The HANZA group thus achieves pro forma annual sales of approximately 5.2 billion SEK with an operating margin of approximately 7.7 percent.
The purchase price for 100 percent of the shares in Orbit One amounts preliminarily to SEK 367 million, which has been paid today. However, the purchase price is dependent on the financial statements for November 2023 and a possible adjustment of the amount will be made when the financial statements are adopted. In addition, there is an additional purchase price that begins to be paid only in the event of an improvement in earnings in 2024 compared to 2023. The acquisition has been financed with bank credits.
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