Bulgaria’s ATM Electronics is acquired for €3.17M by Sweden-based NOTE
Swedish electronic manufacturer NOTE has announced the acquisition of Bulgarian ATM Electronics for a price of €3.17 million (SEK 36 million). As the result of the deal, NOTE gains another electronics assembly plant in Eastern Europe.
- ATM Electronics is an independent private company which specializes in assembly of electronic printed circuits. The company is based in Sofia, Bulgaria and has an electrical assembly plant in Petrich. The company is employing 80 people, its annual sales amount to about €3.5 million, with an operating margin of around 8%.
“NOTE continues to develop strongly. We are enthusiastic about this acquisition, which, in addition to adding another profitable plant to the group, also expands our manufacturing capacity in Eastern Europe. We see great value in the fact that we are now expanding the possibilities to offer our existing customers advanced electronics manufacturing in a very cost-effective part of Europe,”Johannes Lind-Widestam, CEO of NOTE, comments.
- NOTE is one of the leading electronics manufacturing services companies in northern Europe listed. The company’s net sales were worth over €326 million (3.68 billion krona) in the last 12 months. It operates in Sweden, Finland, the UK, Estonia, China, and now in Bulgaria.
- Following the acquisition, the company is expecting strong growth in electronics manufacturing in Europe in the following years.