According to the agreement signed February 26, 2016 access would be made only after a complete and thorough analysis, a so-called due diligence, of SKEAB Electronics AB. The due diligence is now done and the purchase is completed (March 31, 2016). As a part of the ownership changes SKEAB Electronik is now called Inission SKEAB. The acquisition involves no organizational changes and Christian Löfgren remains CEO.
The purchase price amounts to SEK 17.3 million in cash, including a claim against the seller of SEK 5.6 million to be repaid at closing. The purchase is funded by half from Inissions own cash and the remaining half by loans from Inissions house bank, everything according to Inissions standard terms.
Inission now consist of seven plants – four focused on customer oriented operations in Gothenburg, Stockholm and Sösdala, as well as three large factories in Pajala, Munkfors and Tallinn.
About SKEAB Elektronik
SKEAB Electronik are manufacturing products containing modern electronics. SKEAB Electronik has 25 years experience in the industry with broad expertise and equipment for making prototype and series production to testing and delivery. The company has annual sales of approx. SEK 40 million and has 28 employees. SKEAB Electronik is also approved by the Swedish Nuclear Power Industry by Forsmarks Kraftgrupp and is an Achilles approved supplier for Power & Tech.
You can read more about SKEAB at www.skeab.com.
For more information:
Fredrik Berghel, CEO Inission
fredrik.berghel@inission.com
+46 732 02 22 10
Christian Löfgren, CEO SKEAB Elektronik
christian.lofgren@skeab.com
+46 736 33 97 77
About Inission
Inission is a total supplier of customized manufacturing and logistics services in advanced industrial electronics. The Group consists of the parent company Inission AB and the wholly owned subsidiaries Inission TRIAB AB and Inission SKEAB in Stockholm, Inission Göteborg AB, Inission Munkfors AB, Inission Pajala AB, Inission Montronic AB in Sösdala and the Estonian company Inission Tallinn OÜ. Inission has a turnover of SEK 340 million, with approx. 210 employees and is listed at Nasdaq First North. Certified Adviser is Avanza Bank.