Fr. l. Pauli Kulvik Helmet Capital, Sampo Ahonen Helmet Capital, Fredrik Berghel Inission and Olle Hulteberg Inission

Inission has signed an agreement to acquire 100% ownership of HY-Tech Comp Oy (HY-Tech). HY-Tech is a manufacturing service provider and partner in mechanics, electronics and electro mechanics with production facilities in Finland and Estonia. With this acquisition Inission will widen its portfolio in Finland and strengthen its position as a complete contract manufacturer with both electronics and mechanics.

The price for acquiring 100% of the HY-Tech shares is EUR 3,3 million where-of EUR 1,62 million will be paid in cash and the rest will be paid with 147.000 Inission B-shares, resulting in a dilution of 3%. The seller is Helmet Capital with its investors. Helmet Capital is a Finnish private equity firm, which invests in small- and medium-sized (SME) companies. Inission welcomes Helmet Capital and its investors as 50 new shareholders. The shares are subject to a lock-up period of 6 to 12 months.

The signing and closing of the agreement were completed on the 26th of February 2020.

Overview of HY-Tech
For the full year of 2018 HY-Tech had a revenue of EUR 15,4 millionwith EBITDA of EUR 0,6 million. According to the preliminary un-audited figures of 2019 the revenue increased to EUR 15,9 million and EBITDA of EUR 0,9 million. HY-Tech has production facilities in Lohja, Finland and Lagedi, Estonia.

Strategic rationale
Through the acquisition, Inission will be able to improve service and product offering to its existing customers, widen its customer base, enter into new markets and new geographic areas. The acquisition also balances Inission’s customer portfolio both in numbers and industrial segments.

After the acquisition, HY-Tech business units will continue to run their operations as independent units within Inission. In the long-term, the acquisition is expected to bring synergy benefits in e.g. material purchasing and cross-selling opportunities.

The cash transaction is fully financed with loan of EUR 1,62 million by Inission’s bank according to Inission standard terms.

The transaction is estimated to have a significant positive impact on revenue and operating profit (EBIT) of Inission in 2020.

Olle Hulteberg, Marketing Director and one of Inissions main owners:
– Inission is well established in Sweden with five factories and after our recent acquisition in Norway it is very satisfactory to become present in Finland. The Nordic countries are our market and this will make Inission more complete and HY-Tech much stronger. Together we will be able to offer mechanics as well as electronics to all our customers. It is a strong fit and I very much welcome HY-Tech as a new member of Inission.

Pekka Väyrynen, CEO HY-Tech:
– HY-Tech is famous for competitive and flexible contract manufacturing in industrial sectors. We provide our customers with cost-effective, reliable and competent services. Together with Inission we will be even more focused on high tech and providing machine building industries focused cutting-edge solutions. We at HY-Tech look for strong co-operation within Inission and are ready to utilize the group’s all aspects in order to provide world class customer service.

Sampo Ahonen, Partner Helmet Capital:
– HY-Tech has been part of Helmet Capital portfolio of companies already since 2007 when Helmet Capital together with a group of investors became owners of HY-Tech. It has been an interesting journey through the years to help HY-Tech to become a strong industrial contract manufacturing company in Finland and Estonia. We are now very happy to see Inission as the new industrial owner who can further accelerate the positive development that HY-Tech has experienced recently.

The acquisition will be consolidated as part of Inission financials from the 26’Th of February 2020.

For further information please contact
Sampo Ahonen, Partner Helmet Capital Oy
+358 40 520 1090

Olle Hulteberg, Marketing Director Inission AB
+46 707 20 24 44

About Inission
Inission is a profitable total supplier that offers demanding industrial customers in the Nordic region manufacturing and logistics services for complete electronic products. We develop, design, test and industrialize customers’ products. We stock, repair and upgrade them throughout their lifetime. By combining this with a production based on high flexibility, customization and short lead times, our offer becomes very competitive. Inission has production units in Stockholm, Västerås, Borås, Munkfors, Malmö, Trondheim and Tallinn. Inission also owns a sales company in Copenhagen. Inission is listed on Nasdaq First North with Stockholm Certified Advisers AB (, +46 707 94 90 73) as a certified adviser. The company’s reports are filed under:

Inission AB: 556747-1890
Lantvärnsgatan 4,
652 21 Karlstad