Nordic Business Report-September 14, 2006-PartnerTech AB acquires UK manufacturer The Hansatech Group
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The Swedish contract electronics developer and manufacturer PartnerTech AB said on Thursday (14 September) that it has agreed to acquire United Kingdom manufacturer The Hansatech Group.
The purchase price, including earn-out payments, amounts to an estimated GBP5.8m, part of which will be paid in shares.
The Hansatech Group represents advanced expertise within prototype development, printed circuit board assembly and box build. The company has facilities in Cambridge, King's Lynn and Poole. It has 320 employees and annual sales of approximately GBP20m.
"The acquisition provides us with a platform in the UK and fits well into our strategy of linking proximity to our customers to production, suppliers and expertise in other parts of the world," commented Mikael Jonson, CEO of PartnerTech.
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