🇸🇪 W5 Solutions buys Box Modul
Article from North Sweden Business
PITEÅ W5 Solutions AB acquires all shares in the Piteå company Box Modul. The purchase price is SEK 180 million.
W5 Solutions, based in Nacka, Stockholm, delivers systems and solutions to companies and authorities in the defence sector. The company offers expertise in training and simulation, communication, power supply and integration. The company has sales of SEK 168 million with an operating profit of SEK 24.4 million and 63 employees.
“We are making another strategically important acquisition that facilitates continued sales and profitability growth. We are broadening our product portfolio with, among other things, mobile control centres and power supplies and expanding our ability to deliver complete turnkey solutions. It is with great pleasure that we welcome Box Modul’s employees to the W5 Solutions Group,” says Daniel Hopstadius, CEO of W5 Solutions.
The deal is structured so that of the purchase price of SEK 180 million, SEK 100 million will be paid through a directed share issue and the rest as two promissory notes. In addition, an cash earn-out of a maximum of SEK 50 million may be paid if certain agreed conditions are met.
Box Modul’s operations will continue to be run in a separate company under the name Box Modul.
”We have found a partner with whom we are able to have one of the strongest offerings on the market. It feels exciting and completely right to continue the development together within the W5 Solutions Group,” says Peter Nordlund, CEO of Box Modul and owner.
Box Modul was bought by Nordlund Invest in 2017 and Peter Norlund stepped in as CEO. Since 2017, the company has tripled its turnover, partly by succeeding in reaching new customer groups. The company now has 20 employees. In 2022, the company had a turnover of SEK 106 million and an operating profit of SEK 14.9 million.
Box Modul designs, produces and sells shelters to companies and organisations in areas such as defence, IT & telecom, healthcare and energy. In the defence sector, Box Modul delivers customised shatterproof shelters designed to meet military standards.
The company develops and manufactures modules from sandwich panels. Manufacturing takes place in Piteå. Customers are companies in IT and telecom, defence, healthcare, energy and automotive testing. Customers include ABB, Boliden, SAAB, LKAB, Infranord, Dynasafe, Schneider, Global Connect, SAAB, Volvo, Porsche, Bosch, Coromatic, Enaco and Hitachi.
