HUBER+SUHNER acquires UK based Phoenix Dynamics and broadens its offering in the Industry market segment
|
HUBER+SUHNER AG / Key word(s): Acquisition Ad hoc announcement pursuant to Art. 53 LR - 31.10.2022 HUBER+SUHNER acquires Phoenix Dynamics Ltd, a provider of customised, assembled cable solutions, electro-mechanical assemblies, concept design and consulting for the industrial markets in Europe and North America. Based in Staffordshire, UK, Phoenix Dynamics has been active in the aerospace and defense markets for 25 years. The company that also serves customers in industries such as automotive, energy, industrial, marine, medical, rail and security will become HUBER+SUHNER Phoenix Dynamics Ltd.
For aerospace and defense as well as other high-end markets, Phoenix Dynamics is specialised in customising electro-mechanical connectivity solutions, offering a wide range of cable assemblies and wiring harnesses utilising radio frequency, fiber optics and low frequency technologies. Phoenix Dynamics’ expertise includes customer support through concept design, prototyping, testing and quality assurance as well as consulting services to improve performance of existing solutions.
“Phoenix Dynamics is a highly valuable addition to HUBER+SUHNER,” says Urs Ryffel, CEO of HUBER+SUHNER. “Their strategic focus on complete solutions in our aerospace and defense growth markets will enable us, after integration, to offer existing customers in this subsegment end-to-end solutions based on all connectivity technologies.”
David Grocott, CTO and COO of Phoenix Dynamics Ltd and newly named Managing Director of HUBER+SUHNER Phoenix Dynamics Ltd., comments: “Access to the resources and the global network of HUBER+SUHNER will have a very positive impact on expanding our product and service offerings and will foster our engineering capabilities further.”
The acquisition of Phoenix Dynamics supports the ambition of HUBER+SUHNER to expand component sales with complete, customised solutions. The company currently generates sales in the mid-single digit million range. It will be integrated into the Industry market segment and will continue to operate out of its facilities in Staffordshire. The purchase price will be financed exclusively from own funds. Both parties have agreed not to disclose the financial details of the transaction.
This media release can be found at https://www.hubersuhner.com/en/company/media/news and is also available in German. The German version is binding.
Media release as PDF Link Further calendar dates
HUBER+SUHNER AG End of Inside Information |
| Language: | English |
| Company: | HUBER+SUHNER AG |
| Tumbelenstrasse 20 | |
| 8330 Pfäffikon ZH | |
| Switzerland | |
| Internet: | www.hubersuhner.com |
| ISIN: | CH0030380734 |
| Valor: | 3038073 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1475085 |
| End of Announcement | EQS News Service |
|
|
1475085 31-Oct-2022 CET/CEST
