Etteplan strengthens its foothold in Sweden and acquires Devex Mekatronik

Etteplan Press release 12.6.2019 at 1.15 p.m. 

Etteplan is strengthening its foothold in Sweden with the acquisition of engineering company Devex Mekatronik AB. The acquisition is in line with Etteplan’s growth strategy, at the core of which is organic growth and strengthening the company’s expertise and market position through acquisitions. Established in 1998, Devex Mekatronik specializes in mechanical and electronical engineering, software development, embedded systems and life science. Devex Mekatronik’s turnover in 2018 amounted to approximately EUR 9.2 million (SEK 97.6 million), and the company’s customers operate in a wide range of industries. Devex Mekatronik employs 120 experts in six locations in Sweden: Stockholm, Uppsala, Linköping, Karlstad, Lund and Sundsvall.

Etteplan, which specializes in industrial equipment and plant engineering solutions, software and embedded system solutions, as well as technical documentation solutions, will significantly reinforce its knowledge base and market position in Sweden thanks to the acquisition. Once the transaction is complete, Etteplan will have more than 600 employees working in 15 different locations in Sweden.

“The acquisition of Devex Mekatronik will considerably enhance our position in Sweden’s growing market and expand our expertise, especially in the area of medical technology. At the same time, we will strengthen several of our customer relationships and be able to more effectively challenge other players in the market, ” says Etteplan’s President & CEO, Juha Näkki.

“It has been 20 years with many interesting development phases for Devex Mekatronik and I am very proud of what we have accomplished over the years. Our customer projects are becoming even larger, which is why we need access to a larger resource pool and wider capabilities to be able to meet our customers’ needs. Etteplan’s business has developed favorably in Sweden. They are located in the same cities as we and share our ambition to work in increasingly challenging projects. Together we are stronger and can confidently work in larger projects than before and win new customers from the global markets. “says Eric Boström, founder and chairman of the board of Devex Mekatronik.

Etteplan expects the transaction to generate roughly EUR 400, 000 in synergies from 2020 on. The parties have agreed not to reveal the price of the transaction.

Additional Information:
Juha Näkki, President and CEO, Etteplan Oyj, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, Etteplan, tel. +358 40 512 1375
Eric Boström, Chairman of the Board, Devex Mekatronik Ab, tel. +46 70 321 6880

Etteplan in brief
Etteplan provides solutions for industrial equipment and plant engineering,  software and embedded solutions and technical documentation solutions to the world’s leading companies in the manufacturing industry. Our services are geared to improve the competitiveness of our customers’ products, services and engineering processes throughout the product life cycle. The results of Etteplan’s innovative engineering can be seen in numerous industrial solutions and everyday products. In 2018, Etteplan had a turnover of approximately EUR 236 million. The company currently has more than 3, 100 professionals in Finland, Sweden, the Netherlands, Germany, Poland and China. Etteplan’s shares are listed on Nasdaq Helsinki Ltd under the ETTE ticker. www.etteplan.com