Beijer Electronics Group AB (publ) acquires the Swiss company Neratec
BEIJER GROUP’s business entity Westermo has today acquired 100% of the Swiss company Neratec Solutions AG, a technology company specialized in WLAN products with a high focus on reliable and robust wireless communication solutions for the train and trackside sector.
Neratec has about 25 employees and a Sales of approximately 6,5 MCHF (62 MSEK) in 2018 with a good profitability and its operations is in Bubikon in Switzerland.
“The acquisition of Neratec will strengthen Westermo’s offering to the Railway industry to include a strong wireless portfolio that we can channel via our worldwide sales network. Neratec in Switzerland will be our technology centre for industrial WLAN products within Westermo” says Jenny Sjödahl, CEO of Westermo.
“We are excited to join Westermo and BEIJER GROUP. Our complementary technologies will create a very strong offering to the industry and Westermo’s worldwide sales organization will ensure a global market access” says Jussi Harju, Managing Director of Neratec Solutions.
“I am pleased that we today announce this first complementary acquisition to the business entity Westermo. Since the new strategy put in place 2016, we have proven our ability with high profitable organic growth and now we start to add on with acquisitions” says Per Samuelsson, President and CEO of BEIJER GROUP.
The purchase price amounts to 5 MCHF on a cash/debt-free basis and is paid in cash. A smaller performance-based consideration will be paid later if certain criteria are met. The acquisition will have limited impact on BEIJER GROUP’s earnings in 2019.
For more information please contact:
President and CEO, Per Samuelsson, tel 46 (0)40 35 86 10, mobile 46 (0)708 58 54 40
Executive VP and CFO Joakim Laurén, tel 46 (0)40 35 84 96, mobile 46 (0)703 35 84 96.
This information is such that Beijer Electronics Group AB (publ) is required to disclose in accordance with EU's Market Abuse Regulation (MAR). The information was submitted for publication through the agency of the contact persons set out above at 14:00 CEST, July 8, 2019.
Beijer Electronics Group AB (publ)is a growing powerhouse of innovators within mission-critical industrial digital technology and IIoT. With a strong focus on the connection between people, technology and data, we share a pride in having some of the world’s leading global companies as our core customers. Since its start-up in 1981, BEIJER GROUP has evolved into a multinational group of complementary business entities with sales over 1.4 billion SEK in 2018.
The company is listed on the NASDAQ OMX Nordic Stockholm Small Cap list under the ticker BELE. www.beijergroup.com