Acal has secured the acquisition of computing technology manufacturers Hectronic AB for a consideration of £1.2 million.
Acal has secured the acquisition of computing technology manufacturers Hectronic AB for a total consideration of £1.2 million.
Surrey-headquartered Acal provides technology products and services to the electronics, supply chain and medical markets.
The deal achieves an exit for majority shareholder Verdane Capital III AS, a Nordic private equity company. Acal are to buy 100 per cent of Hectronic using existing cash resources.
Chief executive of Acal, Nick Jefferies, comments: ‘The acquisition of Hectronic is another step in the implementation of our European specialisation strategy, enhancing our position in the sizeable Nordic specialist electronics market.
‘It follows the acquisition of CompoTRON GmbH in January which has been operating ahead of our expectations.’
In January Acal paid £7.1 million to acquire Munich-based CompoTRON, a supplier of electronic communication and fibre optic components to the industrial electronic markets.
Prior to Acal’s January buy, its last acquisition had come in October 2009, in the form of an £8.8 million purchase of BFi OPTiLAS.
Swedish-based Hectronic had reported annual sales of £7 million and employs 28 staff.
As part of the deal it will form a separate business unit within Acal’s electronics division.