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NOTE Acquires Industrial Property in Herrljunga
April 8, 2024 | NOTEEstimated reading time: 1 minute
In the summer of 2022, NOTE acquired its fourth electronics factory in Sweden – NOTE Herrljunga. Since then, operations in Herrljunga have developed very positively, with growth and profit development clearly exceeding the initial plans. Turnover last year amounted to SEK 249 million with an operating margin of over 10%. NOTE has now acquired the previously rented industrial property of roughly 6,400 m2 where the business is conducted. The acquisition also includes land of about 25,000 m2.
The property is tailored for electronics production and offers great opportunities for continued expansion of manufacturing. NOTE has acquired all the shares in the real estate company that owns the property. Based on a valuation of the property of approx. SEK 24 million (approx. SEK 3,800/m2), before deduction for deferred tax, the purchase price for all shares in the property company amounts to SEK 15 million. The payment has been made in cash.
“We see great opportunities to grow our production in Sweden. It is positive that, together with our strong customer base, we will now be better able to develop the business and our capacity needs at the same time as we lower our current property costs,” says Johannes Lind-Widestam, CEO and president.
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