Swedish Partnertech is buying its contract manufacturing colleague Vellinge Electronics. The deal adds major industrial clients like ABB and Atlas Copco to Partnertech's customers.
"This deal strengthens our market position and widens our client base," says Partnertech MD Mikael Jonson to Elektroniktidningen.
The take-over will increase Partnertech's SEK1.1bn ($110m) turnover by 50 per cent. Vellinge, based outside Malmö, also brings with it major industrial clients like ABB, Atlas Copco and Gambro. Partnertech on the other hand is well-established in telecom, IT, mechatronics and medical technology. The idea is for Partnertech's product development expertise to be utilised in Vellinge, where this has not been a focus point in the past.
"The take-over is advantageous in that we can use our respective areas of expertise and thereby become more efficient," says Vellinge Electronics MD Claes Vretlind.
The two companies are already intertwined in that Vellinge's owner Skanditek also holds a majority stake in Partnertech. This has somewhat complicated the financial settlement. However, Claes Vretlind of Vellinge believes his company has been correctly valued.
The take-over will increase Partnertech's SEK1.1bn ($110m) turnover by 50 per cent. Vellinge, based outside Malmö, also brings with it major industrial clients like ABB, Atlas Copco and Gambro. Partnertech on the other hand is well-established in telecom, IT, mechatronics and medical technology. The idea is for Partnertech's product development expertise to be utilised in Vellinge, where this has not been a focus point in the past.
"The take-over is advantageous in that we can use our respective areas of expertise and thereby become more efficient," says Vellinge Electronics MD Claes Vretlind.
The two companies are already intertwined in that Vellinge's owner Skanditek also holds a majority stake in Partnertech. This has somewhat complicated the financial settlement. However, Claes Vretlind of Vellinge believes his company has been correctly valued.
Gittan Cedervall