Read the original press release here.
Hexatronic Group AB (publ) (“Hexatronic”) has on November 2 acquired all shares in Baltronic Group OÜ (“Baltronic Group”) and Toronics Inc (“Toronics”). Baltronic Group and Toronics supply and assembly fiber optic products with focus on wireless and FTTH solutions. The production unit was established in Estonia 2001 and is the largest fiber optic termination house in the Baltics where standard and customized products are assembled.
The companies offer a wide range of both passive and active products for the telecommunication industry to support the FTTH and 5G buildout. In addition to the production unit in Estonia Baltronic has sales offices in Latvia, Lithuania and Sweden. Toronics is based in Canada.
The selling shareholder of Baltronic Group and Toronics is the founder and chairman that will continue in the Hexatronic Group with a continued focus to develop the business in Canada.
The acquisition has no significant impact on Hexatronic’s earnings and is financed through a combination of a directed share issue to the seller and available cash.
“Baltronic Group and Toronics has been trusted partners to us for many years and we are very pleased to welcome the team to the Hexatronic Group. This acquisition will bring us a strong presence in the Baltics, skills and expertise in wireless network solutions where they have long experience and gain us a footprint in the Canadian FTTH-market as part of our North American growth strategy. Baltronic’s production facility will also increase our production capacity in Europe and bring us closer to a number of important markets and thereby increase our competitiveness”, says Henrik Larsson Lyon, CEO of Hexatronic Group.
The law firms Vinge KB and Sorainen have been Hexatronic’s legal advisors in the acquisition of Baltronic Group and Toronics.
Gothenburg, November 2, 2020
Henrik Larsson Lyon
CEO Hexatronic Group
For more information, please contact:
Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00
