Springboard Corporate Finance is pleased to announce that it has advised on a cross border transaction, advising the shareholders of AWS Electronics Group on the sale to Incap Corporation, a company headquartered in Finland and quoted on the Nasdaq Helsinki Stock Exchange. 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 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.
Otto Pukk, President & CEO of Incap Corporation commented:
“This acquisition will enable us to serve our customers even better. I am happy to welcome the AWS Electronics team onboard 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 foothold in the U.K. and Central European markets.”
David Neate, Partner and Jonathan Wright, Assistant Director at Springboard Corporate Finance advised the shareholders of AWS on the deal. David commented: “We are delighted to have assisted the shareholders of AWS on this strategic cross border deal. As part of Incap AWS will be well placed to continue its positive growth trajectory, providing its customers with high complexity EMS services.”
Paul Deehan, Former CEO - AWS Electronics Group
The team at Springboard had a thorough understanding of our objectives and delivered against these. This was a complex cross-border transaction with multiple advisors in multiple territories but Springboard managed these complexities very well and kept us fully informed at all times. It was a challenge to get to completion - Springboard worked diligently to get the deal over the line.