GERMANY – BAVARIA Idustriekapital buys Elcoteq

BAVARIA Industriekapital AG has acquired Elcoteq Communications Technology GmbH, based in Offenburg, for an undisclosed sum. Finnish Elcoteq Group, a supplier of electronic goods, has divested the business due to its changed role in Elcoteq’s global production network. Parent company Elcoteq provides end-to-end solotions from development, to manufacture and servicing. It employs 25,000 staff worldwide, and reported a turnover of EUR 4.3bn in 2006.