Orbis advises on the cross-border sale of AWS Electronics Group to InCap
Incap Oyj (“Incap”), a company headquartered in Finland and quoted on the Nasdaq Helsinki Stock Exchange has completed the acquisition of AWS Electronics Group (“AWS”). Orbis Partners advised Incap, working closely with the Helsinki office of Clairfield International.
AWS, operating from production facilities in Newcastle Under Lyme, UK and Namestovo, Slovakia, is an Electronic Manufacturing Services (“EMS”) provider focused on high complexity, specialised services in the industrial controls, medical, automotive, aerospace, scientific instrumentation and controls sectors.
Generating sales in excess of €41 million per annum and employing around 430 people, AWS works with customers in the UK, Central Europe, USA and South-East Asia.
Incap is an international electronics contract manufacturer whose customers are leading suppliers of high-technology equipment in their own business segments. Incap has operations in Finland, Estonia, India and Hong Kong. The company employs approximately 830 people generating annual revenues in excess of €70 million.
The enlarged group will employ over 1,250 people and generate annual revenues of c. €110 million.
This acquisition will enable us to serve our customers even better. I am happy to welcome the AWS team on board to take the next steps on our growth path. AWS has been growing for many years and we see a strong fit with Incap. With this long-term, strategic acquisition we will strengthen our market position and balance our customer base. We are excited to widen our geographic presence and gain a foothold in the U.K. and Central European markets.
Otto Pukk, President & CEO of Incap
Despite all the uncertainty regarding the UK future economic relationship with the EU we are pleased to have advised Incap on this significant investment in the UK market. It was also good to work with our colleagues from Finland, demonstrating the strength of the Clairfield International network in collaborating on cross-border M & A.
We are happy and thankful for the whole team that worked together with us on this transaction. The integrated Clairfield advisory team from Finland and Orbis in the UK was able to provide solutions that were central in the deal making.