Read the original press release here.
Hexatronic Group AB (publ) ("Hexatronic"), has acquired ATG Technology Group Limited ("ATG”), a unique player in the New Zealand fiber industry. This strategic acquisition foremost complements an existing subsidiary with operations in Australia (Optical Solutions Australia - OSA). The acquisition also further enriches Hexatronic's portfolio and expands Hexatronic’s presence in the New Zealand market where Hexatronic already has a subsidiary that delivers passive fiber optic system solutions and has its own local microduct production facility.
Transaction rationale
Spanning optical cable, fiber connectivity, hand tools, fusion splicers and test & measurement, ATG aligns with Hexatronic's growth roadmap as it serves as a complementary add-on to OSA, a current company within the Hexatronic umbrella with operations in Australia. OSA and ATG currently share a number of supply partners, with the acquisition expanding ATG’s range to include more of OSA's partners and technology solutions. ATG today has six employees and an annual revenue of approximately 3 MNZD.
Comments from Hexatronic CEO
"We're excited to announce the acquisition of ATG, the next step in our journey towards expanding our geographic footprint and reinforcing our position in the New Zealand fiber market. The acquisition opens avenues for synergies with our existing company, OSA, and strengthens our presence in the region. By integrating ATG's experience and expertise, we're well-positioned to offer an even broader range of solutions and enhance the value we provide to both our customers and our portfolio," says Henrik Larsson Lyon, CEO of Hexatronic Group.
Comments from ATG CEO
"We have built a loyal and supportive customer base over the last 25 years, and joining the Hexatronic group will allow us to expand our offering to further service our existing and new customers. I look forward to working with the OSA team that I have known for several years. Their experience as a Hexatronic Group company gives me confidence that the ATG entrepreneurial spirit and its people will be greatly valued,” says Chris Fitzpatrick, CEO of ATG.
The acquisition is financed with available cash.
The acquisition has no significant impact on Hexatronic’s earnings.
Gothenburg, September 1, 2023
Henrik Larsson Lyon
CEO Hexatronic Group
For more information, please contact:
Henrik Larsson Lyon, CEO Hexatronic Group, +46 706 50 34 00
Pernilla Lindén, CFO Hexatronic Group, +46 708 77 58 32
The information was submitted for publication, through the agency of the contact person set out above, at 18:00 CEST on September 1, 2023. This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
