Hanza acquires product development company in Germany
Budelmann consists of a multidisciplinary team of 10 people with excellence in electronics, mechanics and software development. The company is run by technical doctor and professor Christoph Budelmann and his wife Jeannine Budelmann, who has an international background in economics and culture from universities in Germany, France and China.
In 2022, we complete an extensive expansion program for our six manufacturing clusters. Therefore, this agreement is a natural next step; a strategic acquisition to meet growing demand also in product development, says Hanza CEO Erik Stenfors in the press release.
The company is located in Münster, close to Hanza’s other operations in Germany, and is said to complement the company’s existing product development team in Remscheid.
We are strengthening our different core competencies while offering our customers a unique manufacturing concept, says CEO Jeannine Budelmann, in the press release.
The acquisition is almost debt-free and has an annual turnover of approximately 15 MSEK. The purchase price of the shares is approx. 8 MSEK, with more approx. 2 MSEK in the form of an additional purchase price. The acquisition has only a minor direct impact on HANZA’s income statement and balance sheet.
Budelmann will change its name to Hanza Product Development Services GmbH.