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Hanza

Hanza

Hanza Holding AB: HANZA expands in Finland with new acquisition

08:57 / 19 March 2021 Hanza Press release

HANZA Holding AB (publ) has today acquired Suomen Levyprofiili Oy ("SLP"), a successful Finnish manufacturer of sheet metal mechanics. The deal is an important step in HANZA's ongoing work to expand the Group's development clusters.

SLP has just over 100 employees and operations in a modern production facility in Joensuu, close to HANZA's other factories in Finland. The acquisition complements HANZA's existing manufacturing technologies in Finland, and thus follows the company's business model of creating customer value by linking different factories and offering complete contract manufacturing.

"Regional and complete manufacturing clusters are a recipe for success for our customers, something that has become especially clear during the pandemic," says HANZA's CEO Erik Stenfors. "SLP is a well-managed company that strengthens our offering in Finland, and we welcome their talented employees to HANZA."

The SLP vendors are investors connected to the Finnish investment company Helmet Capital Oy. HANZA will take over immediately and will during 2021 work to develop and integrate the factories in Finland in close collaboration with existing customers.

"We are pleased to now be part of the HANZA Group", says Aku Lampola, MD of SLP. "Our customers demand a broader manufacturing offer, and now we will be able to develop faster in Joensuu as well as internationally together with other parts of the HANZA Group."

Financial information and information about the transaction
SLP has a turnover of approx. SEK 150 million with earnings before depreciation (EBITDA) of approximately SEK 14 million (9.3%). The net debt amounts to approx. SEK 22 million. The valuation for 100% of the shares SLP amounts to approx. SEK 33 million. Furthermore, HANZA will take over a shareholder loan to SLP of approximately SEK 15 million upon accession. The valuation of SLP, including the shareholder loan, thus corresponds to approx. 3.4 times EBITDA and an EV / EBITDA multiple of about 5.

The purchase price consists of a cash fixed purchase price, a cash additional purchase price, and a share part of 1.8 M shares in HANZA issued with the support of the Annual General Meeting's authorization. The shares are covered by a so-called lock-up (may not be sold) until and including 1 April 2022. The share capital is thus increased by SEK 180,000 and the number of shares in HANZA after the issue amounts to 32,779,928. The new issue entails a dilution of approx. 5.5%.

Integration costs are estimated at approx. SEK 6 million and are to mainly be charged to the first quarter of 2021. With consideration to integration and acquisition costs, SLP's contribution to HANZA's operating profit during the first year (in 2021) is thus expected to be limited. The full impact of the acquisition on the HANZA Group will be determined by the purchase price allocation in accordance with IFRS, which has not yet been completed.

Invitation to presentation regarding the acquisition

HANZA invites to a combined teleconference and audiocast where CEO Erik Stenfors and CFO Lars Åkerblom will present the acquisition and answer questions. The presentation will be held in English. You can access the presentation material on HANZA's website shortly before the conference begins.
  • Date and time: Friday March 19 at 11.00 am CET

  • Link to webcast:

https://tv.streamfabriken.com/press-conference-2021-6
  • Phone number for the conference: 

Sweden: +46 8 566 426 51
United Kingdom: +44 333 300 08 04
USA: +1 855 857 06 86

During the conference call, a presentation will be given. To access the presentation please follow the link https://tv.streamfabriken.com/press-conference-2021-6 or download it from HANZA's web site www.hanza.com/en before the event. After the presentation there is an opportunity to ask questions.
  • Please find more streaming information at:

https://financialhearings.com/event/13797

The information in this press release is such that HANZA must disclose it in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.55 am (CET), March 19, 2021. Important information This press release may contain certain forward-looking statements that reflect HANZA's current views of future events and financial and operational performance. Words such as "intends", "anticipates", "expects", "may", "plan ", "anticipate" or similar expressions regarding indications or predictions of future developments or trends, and are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking statements are not guarantees regarding future results or developments and actual results may differ materially from those set forth in forward-looking information.

 

About HANZA:

HANZA is a knowledge-based global manufacturer that modernizes and streamlines the manufacturing industry. Through supply-chain advisory services and our own factories grouped into regional manufacturing clusters, we offer secure deliveries, increased profitability and sustainable manufacturing solutions for our customers.
HANZA was founded in 2008 and in 2020 had sales exceeding SEK 2 billion. The company has production units in seven countries; Sweden, Finland, Germany, Estonia, Poland, the Czech Republic and China. Among our clients are leading product companies such as ABB, Epiroc, GE, Getinge, Oerlikon, Saab and Siemens.

HANZA is listed on Nasdaq Stockholm's main list (ticker: HANZA).

For more information please go to: www.hanza.com

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