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Note Acquires Dynamic Precision Solutions
STOCKHOLM – Note in July announced the acquisition of all shares in Herrljunga, Sweden-based electronics manufacturer Dynamic Precision Solutions for SEK20 million ($1.9 million), with adders based on profitability that could raise the total price to just over SEK50 million ($4.8 million).

The price, assuming the assumption of no debt, is about five times EBITDA.

Through the acquisition, Note gets its fourth Swedish plant and an establishment close to customers in western Sweden. DPS has about 30 employees and forecasted sales of SEK140 million ($13.3 million) for the full year 2022 and with an operating margin in line with Note’s. Its customers are mainly in the communications and industrial segments.

DPS managing director Anders Gustafsson will remain in that role for Note.

Over the past 12 months, the acquisition pro forma means a growth in both sales and operating profit of approximately 5%.

“We are pleased to complete this acquisition, which in addition to adding another profitable plant to the Group, is also expanding our manufacturing capacity in Sweden,” said Johannes Lind-Widestam, CEO and president, Note. “In Sweden, which is Note’s largest market, we noted growth in Q1 of 45%. Together with the customers, personnel and management in the plant in Herrljunga, we look forward to continuing the profitable growth journey.” (MB)