Kontron
On a shopping spree
Kontron AG now announces the acquisition of Hartmann and W-IE-NE-R, a group of rugged computer systems manufacturers based in Germany and the United States, from Phoenix Mecano AG.
Kontron expects the transaction to close in the fourth quarter of 2023. The companies being acquired generated revenue of around EUR 18 million and EBITDA of around EUR 3 million in 2022. The purchase price amounts to EUR 22.1 million, subject to an adjustment of the balance sheet upon closing of the transaction.
Hartmann develops and manufactures integrated modular VPX computing systems for harsh and ultra-high-speed environments that are resistant to radiation and external influences. W-IE-NE-R completes the portfolio with redundant VPX power supplies. The largest markets are the United States, Germany and Switzerland. The product portfolio builds on 50 years of expertise and is driven by a total of 77 employees in Germany and the United States. In 2022, sales amounted to around 18 million euros with an attractive gross margin of over 50% and EBITDA of around 3 million euros.
The growth strategy
According to Kontron, the acquisition generates synergies and supports the strategic Shape program, which is intended to expand Kontron's product portfolio to include vertical market solutions with high margins. Together with Kontron's VPX blade systems and US aerospace systems, the company sees itself as a leading global supplier in the aerospace and security sectors. Including this acquisition, Kontron plans to generate over EUR 100 million in revenue in these markets in 2024. Margins in this area are high. A gross margin of over 50% and an EBITDA of over 15% are expected.
The "Avionics and Defense" business, together with Kontron's transportation business and susietec "Software + Solutions", is expected to develop into the largest segment by 2025 and achieve a revenue share of more than 50% by 2027.
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