Norautron Group has entered into an agreement to acquire 100% of the maritime display and computer manufacturer Hatteland Display from Herkules Capital, according to a Hatteland press release.
Hatteland Display's history dates back to 1989, and the company is now the leading designer and manufacturer of high-end rugged displays, panel computers, and computers for all segments of the professional marine industry. The company has established strong relationships with major systems integrators through a growth strategy based on technological leadership and innovation.
LEADING TECHNOLOGY COMPANY
Norautron Group is a leading technology company with a global footprint. The group is present in several countries worldwide and operates production facilities in Norway, Sweden, Poland and China. During the last decade Norautron Group has had a strong growth, both organic and through acquisitions.
Including Hatteland Display, the Norautron Group will have an estimated annual turnover of app. NOK 1.8 billion and will be a significant player within several segments of the electronics industry, with positions in markets for complete products and components.
The management teams of Norautron Group and Hatteland Display will during the time ahead work together to establish a platform for continued growth and development.
Jørgen C. Broch, the owner of Norautron Group and chairman of the Board, underlines the industrial fit between the companies and that synergies have been an important driver for the takeover. "This acquisition will further strengthen Norautron Group's position as a global technology company", says Jørgen C. Broch.
Trond K. Johannessen, President & CEO of Hatteland Display says: "We are excited about becoming a part of the Norautron Group. There is a strong industrial logic in combining the strengths of the companies to further improve competitiveness and market positions."
Tore Rynning-Nielsen, Senior Partner at Herkules Capital says: "We are glad to sell Hatteland Display to a highly complementary industrial corporation such as Norautron Group as we are confident that both Hatteland Display and Norautron Group will benefit from this new setting."