Connect with us

Company News

Hexatronic acquires Qubix S.p.A., a leading structured cabling company in Italy

Hexatronic Group AB (“Hexatronic”) has today, November 2, 2020, entered into an agreement and completed the acquisition of [90] percent of the shares in Qubix S.p.A. (“Qubix”), an Italian-based supplier of structured cabling for the telecommunication infrastructure in buildings and on campuses. The purchase price for the acquisition amounts to approximately 14.4 MEUR.

Qubix is a leading supplier of structured cabling in Italy. Qubix was established in Italy in 2001 as a spin-off of a cable manufacturer. Most of the company’s total sales is currently in the Italian market. Qubix’s solutions are primarily used in local networks for internet access in office buildings, residential buildings and on university campuses. The structured cabling market in Italy has been growing with a few percent year over year over the last five years and is expected to continue to grow at the same rate going forward.

The seller is euromicron Holding GmbH that holds 90 percent of Qubix. The founder and General Manager of Qubix will continue his current position and remain as a minority shareholder of 10 percent of the shares of Qubix.

Purchase price and financing
Qubix has generated an EBITDA of 3.8 MEUR in the last twelve months. The acquisition is expected to be accretive to earnings, adding 0.70 SEK per Hexatronic share in the first full year after close.

The purchase price of 14.4 MEUR for 90 percent of the shares will be paid in cash. The purchase sum equates to a valuation multiple of 4.2 times based on EBITDA for the last twelve months.

The acquisition is being financed by a senior bank loan from Danske Bank. Net debt/EBITDA for Hexatronic Group following the transaction is expected to be approximately 2.2x.

The acquisition took place through a transfer of shares. Qubix will be consolidated into Hexatronic Group from today, November 2, 2020.
CT Bureau

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2023 Communications Today

error: Content is protected !!