Swedish fiber-optic connectivity technology supplier Hexatronic Group AB says it has completed its acquisition of Opternus GmbH. Opternus, based in Germany, offers sales, training, and service of fiber-optic fusion splicing and measuring equipment. Hexatronic paid 10 million euros for the company, with an additional maximum of 2.5 million euros based on the EBITDA for the upcoming three years.
Hexatronic will pay 90% of the sales price in cash and the remaining 10% through a non-cash issue. The transaction is being funded through a combination of a senior bank loan and a revolving credit facility provided by Danske Bank.
The acquisition expands Hexatronic’s activities in Germany. Opternus holds distribution rights in Germany and Austria for equipment from Fujikura and EXFO; Hexatronic holds the same rights for the Swedish market. Headquartered in Bargteheide, northern Germany, Opternus has sales offices and training premises outside of Stuttgart. The company has 44 employees, including Sven Wiedemann and Hans-Peter Baisch, the two chief executives who were principal owners of the company. Both will stay onboard.
Hexatronic announced the deal October 25, 2018. “Opternus is strategically a very important acquisition for Hexatronic in our vision of becoming a reliable, long-term player on the rapidly growing German market,” said Hexatronic CEO Henrik Larsson Lyon at the time. “Opternus has successfully built a leading position on the German FTTH market which is still in its infancy, with FTTH coverage of just 2.5% or so, compared to over 43% in Sweden. Large investments in fiber infrastructure can be expected for many years to come. An initial major program is already in place, whereby the German government has decided to support FTTH investments worth 3–4 billion euro a year from 2018 until the end of 2020.”
This is not Hexatronic’s first acquisition. For example, the company purchased dispersion compensation technology company Proximion in 2014 (see “Proximion becomes part of Hexatronic Scandanavia”).
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