BM-T exits Hasec in trade sale

Scanfil wholly acquired Hasec for €10.25m, to be financed in part in shares and liquid assets. Scanfil shares worth €2.2m will be sold in the transaction to Hasec's previous owners.

The buyer is a Finland-based electronics sub-contractor. It operates 10 production units around the world and employs 3,400 people. Scanfil made the acquisition to strengthen its position in Germany and central Europe, and boost its growth strategy.

Hasec reported sales of €36m in 2018.

Previous funding
BM-T acquired a 20% stake in the company in 2011. At the time of the acquisition, Hasec generated sales of €20m.

The firm drew equity from its PET II vehicle, which raised €40m in 2010. The fund invests up to €4m in small and medium-sized companies mainly operating in the technology sector across the Thüringia region of Germany.

Company
Founded in 1991, Hasec has approximately 200 employees and operates a production site in Wutha-Farnroda in central Germany. Hasec develops and produces bespoke electronic components for a variety of industries such as medical technology, telecommunications and the automotive sector.

People
Scanfil – Petteri Jokitalo (CEO).
Hasec-Elektronik – Marco Zimmerman (CEO).

People
Vendor – MCF Corporate Finance (corporate finance).

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• Topics
• Exits
• DACH
• Industrials
• Minority investing
• Germany
• Trade sale