Standard of Excellence: Speed vs. Quality in Customer Service
Knocking Down the Bone Pile: Revamp Your Components with BGA Reballing
Global Sourcing Spotlight: Balancing Speed and Flexibility Without Sacrificing Control
NOTE Acquires Modern Electronics Plant in Bulgaria
April 14, 2023 | NOTEEstimated reading time: 2 minutes
NOTE expands its manufacturing capacity through the acquisition of all shares in the Bulgarian electronics manufacturer ATM Electronics. Through the acquisition, NOTE gets its second plant in Eastern Europe. The plant in Bulgaria is expected to meet a rapidly growing need for cost-effective production close to customers in Europe.
In the same way as NOTE, ATM Electronics focuses on long-term customer collaborations, high quality and good delivery precision. The main operations in Sofia are run in modern premises fully adapted for electronics manufacturing. Electrical assembly is done in large series in nearby Petrich. The customers consist of large international industrial companies as well as local customers. The business model is currently based on the processing of materials (electronic components) owned by the customers. Therefore, the company’s sales today essentially consist of services (“value-add”) without materials. These sales amount to approximately SEK 40 million on an annual basis with an operating margin of approximately 8%.
NOTE expects that the demand for electronics manufacturing in Europe will continue to develop strongly in the coming years. NOTE therefore sees great opportunities to significantly grow both manufacturing in ATM Electronics and at the same time increase the customer offering to also include complete PCBAs and products (“Turn-key”).
The purchase price, after deductions for existing debts, amounts to approximately SEK 36 million. Payment of the purchase price is made in cash based on NOTE’s strong balance sheet. The current principal owner, Sergej Shardin, who has successfully developed the company for many years, will continue in his role as CEO of the business. The number of employees amounts to approximately 80.
“NOTE continues to develop strongly. We are enthusiastic about this acquisition, which, in addition to adding another profitable plant to the group, also expands our manufacturing capacity in Eastern Europe. We see great value in the fact that we are now expanding the possibilities to offer our existing customers advanced electronics manufacturing in a very cost-effective part of Europe. Together with existing customers, staff and management in Bulgaria, we look forward to developing the business further and continuing our profitable growth journey”, says Johannes Lind-Widestam, CEO and President at NOTE.
“I have come to know NOTE as a company that shares our core values of high quality and putting the customer at the center. I see great advantages for us and our customers that we now become part of NOTE – not least on the purchasing side. We have strong customer relationships and I look forward to continuing to develop our plants in Sofia and Petrich together with the other operations in NOTE”, says Sergej Shardin, CEO at ATM Electronics OOD.
Share on:
Testimonial
"We’re proud to call I-Connect007 a trusted partner. Their innovative approach and industry insight made our podcast collaboration a success by connecting us with the right audience and delivering real results."
Julia McCaffrey - NCAB GroupSuggested Items
Highlights at productronica 2025
10/29/2025 | productronicaJust a few more weeks to go before the anniversary edition of productronica. The world’s leading trade fair for the development and production of electronics celebrates its 50th anniversary this fall. From November 18 to 21, Munich will once again be the meeting place for the international electronics industry.
Better Sustainability Policies for Electronics
10/29/2025 | Diana Radovan, Global Electronics AssociationI joined the Global Electronics Association in August 2025 as the director of sustainability policy. Since then, much has happened in terms of geopolitics and in the development and re-envisioning of sustainability policies in the industry. While the European Commission has released several legislative packages to simplify sustainability requirements (“omnibus”), these developments haven’t yet settled and are not in effect. Given the many recent and ongoing public consultations, with often conflicting input from a broad range of stakeholders, final negotiations remain rather polarized among policymakers.
Sealed for Survival: Potting Electronics for the Toughest Environments
10/29/2025 | Beth Massey, MacDermid Alpha Electronics SolutionsElectronics deployed in harsh conditions face relentless threats from vibration, impact, chemical contaminants, airborne pollutants, and moisture, conditions that can quickly lead to failure without robust protection. Potting, the process of encapsulating electronics in a protective polymer, is a widely used strategy to safeguard devices from both environmental and mechanical hazards.
Global Electronics Association Unveils Powerhouse Tech and Innovation Keynote Speakers for APEX EXPO 2026
10/29/2025 | Global Electronics AssociationThe Global Electronics Association announces its APEX EXPO keynote lineup, featuring industry titans exploring the frontiers of quantum computing, artificial intelligence, and the electrification of global industries.
MacDermid Alpha Electronics Solutions Announces Agreement to Acquire Micromax
10/29/2025 | MacDermid Alpha Electronics SolutionsElement Solutions Inc, the parent company of MacDermid Alpha Electronics Solutions, announced that it has signed a definitive agreement to acquire Micromax®, a leading global supplier of advanced electronics inks and pastes, from Celanese Corporation.