![]() |
|
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.

People also read ... |
Related Articles |
Interesting links
Other Sector Watch
- Investment veteran airs fears over UK biotech Oct 21 2008
- Talking rubbish Jul 28 2008
- Crisis?– what crisis? Jul 01 2008
- Let the
drilling begin
May 13 2008 - Bargains on the high street
Mar 13 2008
M&A News
- YFM backs training programme for golfers Dec 04 2008
- Biomonitor buys Neutekbio gene technology firm Dec 04 2008
- Marfin Investment buys Flight Ambulance stake Dec 03 2008
- Corporates idealistic about M&A Dec 02 2008
- Conference takes M&A global Dec 02 2008
Special Offers
- 2008 AIM Guide: Jul 17 2007
- Growth Company Investor Magazine: Jul 17 2007
- Cash Shells 2007 - Research report Jul 17 2007
- Venture Capital Trusts Jul 04 2007
M&A Deals
- BTG buys Protherics Dec 04 2008
- Umeco announces Italian acquisition Dec 04 2008
- Sunkar signs Temir subsidiary deal Dec 03 2008
- Destiny gets £4.8m injection Dec 03 2008
- IMS Maxims acquires CSW assets Dec 02 2008
Business Diary
- M&A Expanding internationally 27th November
- Rosenblatt New Energy Awards 2009 25th February
