Avitec manufactures repeaters for mobile telecommunication networks. Repeaters are hardware equipment that are installed to complement the functionality and the coverage in the networks. Avitec has customers world-wide and its net sales totalled EUR 22.1 million in 2006. Currently Avitec employs 64 people.
“During the last years Avitec has successfully grown its business, significantly improved its profitability and gained position as one of the leading repeater manufacturers in the world. We are happy to announce that ECI acquires Avitec as the company has recently acquired also Aerial Facilities Limited, one of Avitec’s main competitors. These two companies have a strong industrial fit,” states CapMan’s Senior Partner Lars Hagdahl.
The CapMan funds CapMan Equity VII, Finnventure V ET and Swedestart Tech made the initial investment in Avitec in 2002 together with 3i, and have made two add-on investments in 2004 and in 2005. Prior to the transaction with ADC, the CapMan funds owned 43.1 % of Avitec’s shares. The investment in Avitec has been moderate for the investors in the CapMan funds.
Keystone Advisers acted as financial adviser to CapMan and 3i.
For further information, please contact:
Lars Hagdahl, Senior Partner, CapMan Technology, Tel +46 8 545 854 76 or +46 707 28 88 80