Hanza has agreed to acquire 100% of BMK Group GmbH in a share-for-share transaction that the company said will complete its Hanza 2025 strategy and establish a foundation for its next phase, Hanza 2028. The deal values BMK at approximately about $193 million based on Hanza’s share price at signing.

Under the agreement, Hanza will issue 16,999,998 new shares to BMK’s three founders, who are expected to collectively own 27% of the combined company upon completion. Closing is subject to approval at an extraordinary general meeting scheduled for November 21, 2025, as well as customary regulatory approvals expected by year-end.

BMK is a European electronics manufacturing services provider focused on complex and high-reliability electronics, with operations in Germany, Israel, the Czech Republic, and China. The company is expected to generate sales of around SEK 3.3 billion in 2025 (about $350 million) with an operating margin of approximately 7.3%. Its offerings span engineering, prototyping, industrialization, manufacturing, testing, and lifecycle services, serving industrial, medical, and defense markets.

On a pro forma basis, Hanza and BMK combined are expected to reach approximately SEK 10 billion in sales in 2025 (about $1.05 billion). Hanza said the transaction will keep leverage within its financial target of below 2.5 times net debt to EBITDA, with the equity ratio expected to remain above 30%.

The acquisition significantly expands Hanza’s footprint in Germany, which will become the group’s largest cluster, and strengthens its position in high-reliability EMS and defense manufacturing. Following completion, Hanza plans to present updated operational and financial targets under its Hanza 2028 strategy at a future capital markets day.

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