HANZA AB has today completed the acquisition of Milectria, a leading contract manufacturer of electrical systems for the defense industry. The acquisition is an important step in HANZA's LYNX program and strengthens the Group's capacity, customer base, and geographical presence.
Strategic background
HANZA's LYNX program was launched in March 2025 with the aim of accelerating growth in the defense and security industry, while securing capacity for other customer segments. The acquisition of Milectria creates a dedicated platform to meet volume increases in these areas.
Milectria has approximately 300 employees and operations in Finland, Estonia, and Abu Dhabi. The deal adds four new production units with highly specialized expertise that strengthen and complement HANZA. A business unit with proprietary products has been excluded from the deal and will be retained by the sellers. As these products have been manufactured in Milectria's factories and will now be relocated, significant capacity will be freed up for contract manufacturing.
The purchase price amounts to EUR 17.1 million, corresponding to approximately SEK 190 million, which on a cash and debt-free basis corresponds to an adjusted EV/EBITA multiple of 4.9. At the time of acquisition, Milectria has a turnover of just over EUR 30 million. An additional purchase price of up to EUR 18 million may be payable, based on sales growth during the period 2025-2027, which assumes that Milectria will more than double its sales during this period.
"The acquisition is a milestone in our LYNX program. It strengthens our capacity to meet increased volumes from the defense industry, while also handling growth in other industries. It is also a matter of Europe's security; our continent needs to rapidly increase its capacity for advanced defense products. The LYNX program is our contribution to this," says Erik Stenfors, CEO of HANZA.
"We are very pleased to become part of the HANZA Group. Together, we can further develop our customer relationships and deliver even more competitive solutions to the European defense industry", says Tomi Kaukonen, CEO of Milectria.
Contacts
Erik Stenfors, CEO
+46 709 50 80 70
erik.stenfors@hanza.com
Lars Åkerblom, CFO
+46 707 94 98 78
lars.akerblom@hanza.com
About Us
HANZA is a global knowledge-based manufacturing company that modernizes and streamlines the manufacturing industry. Through supply-chain advisory services and with production facilities grouped into regional manufacturing clusters, we create stable deliveries, increased profitability and an environmentally friendly manufacturing process for our customers. HANZA was founded in 2008 and currently has annual sales of approximately SEK 6 billion. The company has approximately 3,100 employees in seven countries: Sweden, Finland, Germany, Estonia, Poland, the Czech Republic, and China. HANZA's clients include leading product companies such as 3M, ABB, EATON, Epiroc, GE, Getinge, John Deere, Mitsubishi, SAAB, Sandvik, Siemens, and Tomra. HANZA is listed on the Nasdaq Stockholm main list.
For more information please visit: www.hanza.com
