-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Efore Completes Acquisition of Shares of Powernet International
December 31, 2018 | Globe NewswireEstimated reading time: 1 minute
Efore Plc has completed the acquisition of the entire share capital of Powernet International Oy, a company specializing in the development and manufacture of customer specific power supplies and systems. The acquisition further shifts Efore’s focus towards higher value-added products and solutions. Efore’s Systems business and Powernet form a strong platform based on Finnish know-how dating back years, on which Efore can build new and growing business.
Starting in 2019, Efore’s Systems business and Powernet International Oy will form a new business line in the Industrial business area. Powernet’s current CEO Heikki Viika will be nominated as the executive vice president of the new business line and he will be a member of the Efore group management team.
Powernet, founded in 1992, develops and manufactures customer specific power supplies and systems. Examples include customized power supply and power distribution packages as well as turnkey project deliveries to the train industry and others. Powernet has also been a forerunner in the development of IoT enabled condition monitoring of power supply and power distribution packages, which is utilized in applications such as smart battery chargers. Well recognized especially in the North and Central Europe, Powernet has 30 employees. In financial year 2017 Powernet's turnover was EUR 9.7 million and EBITDA EUR 0.9 million.
The purchase price on a cash and debt free basis (enterprise value) is EUR 4.5 million and the purchase price for the shares at closing of the transaction is EUR 2.5 million. Additionally, the parties have agreed on an earn-out. The maximum amount of the earn-out is EUR 1.5 million and may be paid based on Powernet Group’s consolidated sales margin for financial year 2019.
Suggested Items
Mycronic Releases Interim Report January–March 2024
04/18/2024 | MycronicNet sales increased 39 percent to SEK 1,692 (1,219) million. Based on constant exchange rates, net sales increased 42 percent.
Aspocomp’s Q1 Net Sales and Operating Result Decreased YoY
04/18/2024 | AspocompInflation and interest rates, weak economic development, the uncertainties posed by Russia’s war of aggression and the situation in the Middle East, and global trade policy tensions will affect the operating environment of Aspocomp and its customers in the 2024 fiscal year.
Cicor Records Solid Growth in Q1
04/16/2024 | CicorThe Cicor Group continued to grow in the first three months of the year. Quarterly sales increased by 11.8% to CHF 107.3 million compared to the first quarter of the previous year (Q1/2023: CHF 96.0 million).
Europe’s IT, Business Services Sector on the Rebound in Q1: ISG Index
04/15/2024 | BUSINESS WIREEurope’s demand for IT and business services in the first quarter rose for the first time in a year, powered by growth from the banking, financial services and insurance (BFSI) sector, according to the latest state-of-the-industry report from Information Services Group (ISG), a leading global technology research and advisory firm.
FTG Announces Q1 2024 Financial Results
04/12/2024 | Firan Technology Group CorporationDuring Q1 2024, the Corporation has continued to invest in technology in existing sites, grow the business organically, and integrate the two acquisitions completed last year. FTG is strategically deploying its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. Specifically, FTG accomplished the following in Q1 2024, which continues to improve the Corporation and position it for the future: