BaltCap-backed Hanzas Elektronika (HE), an electronic manufacturing services company based in Latvia, has acquired Sweden's fifth largest business in the same sector, Elektromekan i Årjäng AB. Elektromekan was acquired from Westergyllen AB for an undisclosed sum. The add-on was made to accelerate HE's growth in the Nordic region. The transaction was financed by Nordea Bank Latvia and Hansa Investment Funds.
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Sweden-based technology investor has been listed on the Swedish stock exchange since 1997