Simpro Acquires Stake in Fellow EMS Noca
LOKKEN, NORWAY --Simpro Holding will acquire a majority stake in electronics manufacturer Noca Holding AS as it continues its investment in the EMS sector.
Under terms of the deal, Simpro will pay NK 19.5 million ($2.5 million) to acquire some 12,300 shares -- representing 53.48% stake -- in Noca from Q-Free ASA. Due diligence has been completed and the transaction is expected to close before year-end.
Simpro also owns electronics manufacturer Simpro AS and has a 20% interest in the product development company Prevas Development.
"Simpro sees this as part of our growth strategy and ambition to be the preferred provider of electronics manufacturing and electro-mechanical assembly," said CEO Erik Dragset. With this level of activity we see in Trøndelag now, so please take that production is done locally and thus strengthen Trøndelag supply,
The deal will "open new market opportunities both domestically and internationally," Dragset added. "(We) will now be able to take on more complex and comprehensive projects for both existing and new customers and at the same time increase our flexibility and become more competitive."
