Beijer Alma’s subsidiary Beijer Tech acquires Swedish Microwave AB
Beijer Tech has today acquired the majority of the shares in Swedish Microwave AB, a manufacturer of equipment for satellite communication to the global professional market.
Swedish Microwave’s (“SMW”) products are, among others, used within the marine industry, earth observation as well as among satellite and teleport operators. The products are characterized by technical complexity with stringent quality requirements. SMW has a strong focus on product development, enabled by a high degree of technical expertise. The company has 24 employees in Motala and revenue of about MSEK 50, with high profitability.
The acquisition is in line with Beijer Alma’s model for value-adding acquisitions and Beijer Tech’s strategy of acquiring profitable companies in attractive niches with good growth potential and high value add.
Beijer Tech’s President, Staffan Johansson, commented on the transaction: “I’m impressed with the high level of technical expertise and strong market position that SMW has established. The company is well managed, niched and provides us with a new product area with exposure to a growing market, fully in line with our active acquisition strategy. I look forward to working together with the minority shareholders and employees to take the company to the next level.”
SMW’s President, Dennis Danielsson, commented on the transaction: “For us at SMW, this feels like a natural step in our ongoing growth journey. Beijer Tech is a long-term industrial owner and strategic partner that can help us take the next step. We look forward to continuing to grow the company with new and existing customers together with Beijer Tech.”
In the transaction, Beijer Tech acquires 80 percent of the shares in SMW with closing today. The four former owners will remain as operating minority owners following the transaction to further develop the company. The acquisition is expected to have a marginally positive impact on Beijer Alma’s earnings per share.