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09 Sep 22. MilDef acquires Handheld Group and accelerates the pace in the strategy for profitable growth. MilDef has entered into an agreement to acquire all shares in the company Handheld Group AB (“Handheld”), specialised within the product segment rugged computers for an international customer base. The acquisition accelerates the pace in MilDef’s strategy for profitable growth, adding a complementary product segment, broadening the customer base as well as strengthening MilDef’s international footprint, including increased market presence in prioritised markets, such as the US and Germany. MilDef envisions substantial commercial synergies within several segments, most notably through cross-selling along the companies’ current verticals. The initial purchase price amounts to 350 MSEK, which corresponds to an EV/EBITDA-multiple of approximately 10x, based on Handhelds estimated EBITDA for 2022. The cash consideration amounts to 270 MSEK and is financed within the framework of existing credit facilities whilst the remaining 80 MSEK is paid with newly issued MilDef shares. With the aim of facilitating continued growth through strategic acquisitions, MilDef will explore potential forms of capital raising.
“The acquisition of Handheld serves several purposes for MilDef’s expansion. Product wise, we strengthen areas where MilDef previously have had some gaps, from an organisational perspective MilDef gains access to prioritised geographic markets and operationally both businesses are equipped with competences and capabilities that will complement one another. An aspect that is extra interesting is Handheld’s successful business in the US, where we see good potential to accelerate together through joint forces in this important market. The companies have limited overlaps and complement each other well. Together, we look forward to building something greater and better. It is with great joy that we welcome Handheld’s staff to the MilDef-family”, says Björn Karlsson, CEO MilDef Group. (Source: https://www.marketscreener.com/)
14 Sep 22. Two senior executives in MilDef increase their holdings in the company. Through the call options issued in 2017 MilDef’s CSO Fredrik Jacobsson and CTO Fredrik Persson have today increased their holding by 881,600 shares each.
Following the acquisition of 881,600 shares, Fredrik Jacobsson’s (Chief Sales Officer) holding amounts to 1031,600 shares, corresponding to 2.59 percent of the total number of shares in MilDef Group.1
Following the acquisition of 881,600 shares, Fredrik Persson’s (Chief Technical Officer) holding amounts to 889,600 shares, corresponding to 2.23 percent of the total number of shares in MilDef Group.1
1 Total number of shares includes the number of shares to be issued in relation to the approximately MSEK 80 m issue-in-kind with a subscription price of SEK 71.02, announced in a separate press release dated September 12, 2022 relating to the acquisition of Handheld Group AB.
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