Hexatronic Group AB has announced its second acquisition this week. The company says it has purchased 90% percent of the shares in Qubix S.p.A., a supplier of structured cabling for in-building and campus applications. Hexatronic paid approximately €14.4 million in cash to euromicron Holding GmbH for the 90% stake; the remaining 10% will remain in the possession of Filippo Gnocco, the founder and general manager of Qubix who will continue his current position. The acquisition is being financed by a senior bank loan from Danske Bank.
Gnocco founded Qubix in Italy in 2001 as a spin-off of a cable manufacturer. The company derives most of its sales from the Italian market, where Qubix’s products are used primarily in local networks for internet access in office buildings, residential buildings, and on university campuses. Hexatronix says Qubix has generated an EBITDA of €3.8 million in the last 12 months. The acquisition is expected to be accretive to earnings, adding 0.70 SEK per Hexatronic share in the first full year after close.
“I look forward to welcoming Qubix and their team to Hexatronic Group. Qubix is the market leader in Italy within structured cabling and complements our offering within indoor telecommunication solutions,” commented Henrik Larsson Lyon, CEO of Hexatronic Group.
“Hexatronic as an international company focused on passive fiber-optic telecommunication infrastructure strengthens our position on the market in Italy where we with the acquisition have access to in-house production of fiber-optic cables, ducts, and connectivity solutions” added Gnocco.
The announcement of the Quibix purchase comes shortly after Hexatronic revealed that it has agreed to buy Baltronic Group OÜ and Toronics (see “Hexatronic buys Baltronic Group OÜ, Toronics for wireless, FTTH expansion”).
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