Inission has signed an agreement to acquire 100% ownership of HY-Tech Comp Oy (HY-Tech). HY-Tech is a manufacturing service provider and partner in mechanics, electronics and electro mechanics with production facilities in Finland and Estonia. With this acquisition Inission will widen its portfolio in Finland and strengthen its position as a complete contract manufacturer with both electronics and mechanics.
The price for acquiring 100% of the HY-Tech shares is EUR 3,3 million where-of EUR 1,62 million will be paid in cash and the rest will be paid with 147.000 Inission B-shares, resulting in a dilution of 3%. The seller is Helmet Capital with its investors. Helmet Capital is a Finnish private equity firm, which invests in small- and medium-sized (SME) companies. Inission welcomes Helmet Capital and its investors as 50 new shareholders. The shares are subject to a lock-up period of 6 to 12 months.
The signing and closing of the agreement were completed on the 26th of February 2020.