Incap Corporation PRESS RELEASE January 23, 2020
Incap acquires AWS Electronics Group
Electronics Manufacturing Services provider Incap Corporation has today signed an agreement to acquire 100% ownership of U.K. based AWS Electronics Group. AWS Electronics is an Electronics Manufacturing Services (EMS) provider specialized in high complexity services with production facilities in the U.K. and Slovakia.
Through the acquisition, Incap will be able to improve its service and product offering, widen its portfolio into U.K and Central-Europe and further strengthen its position in geographical areas such as USA and South-East Asia.
The production facilities in the U.K. and Slovakia complement Incap’s current production facilities located in Estonia and India. In particular this will open the opportunity to widen the commercial prospects between the U.K. and India.
In the long-term, the acquisition is also expected to bring synergy benefits in e.g. material purchasing and cross-selling opportunities.
Otto Pukk, President & CEO of Incap Corporation:
“This acquisition will enable us to serve our customers even better. I am happy to welcome AWS Electronics team onboard to take the next steps on our growth path. AWS has been growing for many years and we see a strong fit with Incap. With this long-term, strategic acquisition we will strengthen our market position and balance our customer base. We are excited to widen our geographic presence and gain foothold in the U.K. and Central European markets.”
Paul Deehan, former CEO of AWS Electronics Group:
“I am pleased to see AWS Group step onboard with Incap. The combined companies create a very strong player in the electronics manufacturing services market that will allow us to serve our customers in the best possible way. There are also a number of key synergy benefits that mean we will be able to offer our customers a broader and more complete service portfolio.”
AWS Electronics Group focuses on high complexity EMS services e.g. for industrial controls, medical, automotive, aerospace, scientific instrumentation and controls.
In the financial year ended on June 30, 2019, AWS Electronics Group had revenue of GBP 35 million (approximately EUR 41 million) and the number of personnel was 436. The AWS business units will continue to run their operations as highly independent unit within Incap Corporation as per Incap current business model.
The former owners of the company, Paul Deehan and Adrian Keane, are committed to support Incap over the transition period.
For additional information, please contact:
Otto Pukk, President and CEO, tel. +372 508 0798
INCAP IN BRIEF
Incap Corporation is an international contract manufacturer. Incap's customers are leading suppliers of high-technology equipment in their own business segments, and Incap increases their competitiveness as a strategic partner. At the beginning of 2020 Incap has operations in Finland, Estonia, India and Hong Kong. Incap employs approximately 830 people. Incap's headquarters is based in Helsinki and the share is listed on the Nasdaq Helsinki Ltd. from 1997. Additional information: www.incapcorp.com ja www.awselectronicsgroup.com