STOCKHOLM -- Note today announced the acquisition of all shares in Herrljunga, Sweden-based electronics manufacturer Dynamic Precision Solutions for SEK 20 million ($1.9 million), with adders based on profitability that could raise the total price to just over SEK 50 million ($4.8 million).

The price, assuming the assumption of no debt, is about five times EBITDA.

Through the acquisition, Note gets its fourth Swedish plant and an establishment close to customers in western Sweden. Dynamic Precision Solutions has about 30 employees and forecasted sales of SEK 140 million ($13.3 million) for the full year 2022 and with an operating margin in line with Note’s. Its customers are mainly in the communications and industrial segments.

Dynamic Precision Solutions managing director Anders Gustafsson will remain in that role for Note.

Over the past 12 months, the acquisition pro forma means a growth in both sales and operating profit of approximately 5%.

“We are pleased to complete this acquisition, which in addition to adding another profitable plant to the Group, is also expanding our manufacturing capacity in Sweden," said Johannes Lind-Widestam, CEO and president, Note. "In Sweden, which is Note's largest market, we noted growth in Q1 for NOTE of 45%. Together with the customers, personnel and management in the plant in Herrljunga, we look forward to continuing the profitable growth journey.”

“I have come to know Note as a professional and solution-oriented company that puts quality and delivery performance first," said Anders Gustafsson, managing director, Dynamic Precision Solutions. "I see great benefits for us and our customers that we now become part of NOTE. We are in a strong growth phase and I look forward to continuing to develop the plant in Herrljunga together with the other operations in NOTE." 

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