Neways to acquire BuS Group

Neways has signed a letter of intent to acquire 100% of the outstanding shares of BuS Holding GmbH (BuS Group).
BuS Group, headquartered in Riesa, Germany, is a privately held (family-owned) electronic solutions provider to the Electronic Manufacturing Services (EMS) market. BuS Group has a total staff of approximately 900, including 50 developers and records annualised sales of around EUR 106 million.

The intended acquisition fits Neways’ strategy and significantly strengthens its footprint in the German EMS market. Neways intends to finance the acquisition with a combination of debt and equity. It is anticipated that the acquisition will be completed in the next few months and will contribute as of deal closure to earnings per share.

BuS Group adds new technological capabilities and expertise as well as the potential to share best practices across the combined group in areas such as component and system development, process innovation, production and supply chain management. In addition, the combination is expected to increase purchasing power and will offer the potential of procurement synergies.

Read more: http://evertiq.com/news/34159

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