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AFL buys Swedish competitor
AFL, a Buckinghamshire-based radio frequency engineer and wireless technology company, has strengthened its operations in Eastern Europe, Africa and Russia after buying one of its rivals.
The company has also extended its existing operations in Europe, Asia Pacific and the US after it acquired Stockholm-based Avitec.
The deal was worth £24 million and backed by private equity firm ECI Partners with senior debt and mezzanine finance provided by The Royal Bank of Scotland and Investec.
AFL’s chief executive, Ian Brown, said the deal has created a product range and distribution network that will challenge the main players in the US and China.
Avitec was sold by Swedish private equity firm CapMan, private equity and venture capitalist 3i and private investors.
Under the terms of the deal, Avitec’s management has joined the enlarged group, with founder Hakan Samuelsson becoming chief technical officer.
This is AFL’s first acquisition since ECI Partners backed a £56 million management buy-in at the company in January, and has created a group with annual sales of more than £40 million and 300 employees.
The enlarged group will manufacture standard and customised systems designed to extend the coverage of mobile telecom networks in confined areas such as tunnels, metro systems and remote rural areas as well as trains and aircraft.

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