Efore Completes Acquisition of Shares of Powernet International


Reading time ( words)

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.

Share

Print


Suggested Items

Excerpt—The Printed Circuit Assembler’s Guide to... SMT Inspection: Today, Tomorrow, and Beyond, Chapter 3

04/22/2021 | Brent Fischthal, Koh Young America
Initiatives like the IPC Connected Factory Exchange (CFX) and IPC-Hermes-9852 underpin efforts within the industry to develop standards and help create a smart factory. These M2M communication standards, guided in part by Industry 4.0, are altering the manufacturing process by improving metrics such as first pass yield and throughput by applying autonomous process adjustments.

Excerpt—The Printed Circuit Assembler’s Guide to... SMT Inspection: Today, Tomorrow, and Beyond, Chapter 2

04/14/2021 | Brent Fischthal, Koh Young America
A limitation of many 3D optical inspection systems is the cycle time typically associated with processing millions of pixels to reconstruct a full 3D image using data captured from multiple channels. There should not be a compromise between 3D inspection and throughput. A successful inspection deployment should provide oversight for the process, not compromise, interrupt or slow that process.

Excerpt: The Printed Circuit Assembler’s Guide to... SMT Inspection: Today, Tomorrow, and Beyond, Chapter 1

04/08/2021 | Brent Fischthal, Koh Young America
Today, optical inspection systems are the preferred solution for in-line quality control in the SMT industry. Systems such as solder paste inspection (SPI) or automated optical inspection (AOI) systems for pre- and post-reflow are almost standard in every production facility.



Copyright © 2021 I-Connect007. All rights reserved.