BB Electronics A/S has acquired Czech company Wendell Electronics, with 130 employees and a revenue in 2018 of 12.5 million EURO (approx. 95 mio DKK). The Horsensbased company currently has approximately 550 employees combined in their factories in Horsens and China.
Wendell Electronics is based in Lanškroun, 180 km east of Czech Republic’s capital city of Prague, close to the Polish border. A strategically ideal placement in relation to the European electronics market, notes CEO Carsten Christensen of BB Electronics A/S.
Establishing a factory in East and Central Europe is a part of the strategic plan that was developed in relation to the change of ownership three years ago. At that time the private equity firm Axcel, after 18 years as a majority shareholder, sold its shares to all the board members and senior employees in the company. Since then, revenue, profits and employees have grown, both in the headquarters in Horsens and in the factory that BB Electronics A/S has had in Suzhou, China since 2004.
”With the location in Eastern Europe we can, to an even greater extent, meet our European customers’ needs for flexibility, box-build production and better logistics. We will be able to service both existing and new customers with a competitive solution that meets their sales markets, preferably supplemented by direct distribution to their customers. With set-ups in Denmark, China and the Czech Republic, we can offer an even stronger platform with a flexible and broad offer for choosing production sites for our customers”, Christensen states.
Wendell Electronics is a family-owned company, established in 2002, that has had solid growth in recent years with a doubling of revenue from 2015 to 2018.
”The entire Wendell management and all other employees are included, and the acquisition does not mean that we are reducing elsewhere. On the contrary, we expect growth to continue, not only in the Czech Republic, but also in Horsens and in Suzhou. From 2017 to 2018, BB’s revenue increased over 20 percent and earnings followed, even as we increased our staff both in Horsens and in China. By moving directly into Eastern Europe with a well-functioning, modern business, we not only increase the customer base, but also our expertise in several areas. We expect to grow in the coming years in all three locations”, says Carsten Christensen.