Incap Oyj entered into an agreement to acquire 100% of Pennatronics Corporation for â¬19.9 million.
The closing of the agreement will occur after the 4th of July festivities in the U.S. The closing is not subject to any approval by competition authorities or any other conditions precedent. Pennatronics' figures will be included in Incap Group's reporting as of July 2023. The transaction is estimated to have a positive impact on Incap Corporation's revenue in 2023. Additionally, the transaction is expected to have a slightly positive impact on operating profit (EBIT) due to one-time integration and transaction costs as well as the purchase price allocation amortization. The amount of integration costs incurring will be specified in more detail during the financial year 2023.
After the acquisition, the former owners of Pennatronics, Ralph B. Andy and Keith D. James, are committed to support Incap over the transition period.