Details of the operation
The purchase has been closed for €13.3M, debt free and to be paid in cash, financed through a credit line. In addition, if Intesis achieves the financial targets defined in the agreement by 2019, a further €2M will be added to the purchase amount.
Intesis operate autonomously within HMS, maintaining its current offices in Igualada, and will continue to offer products and services for building and home automation under its brands IntesisBox®, IntesisHome® and Houseinhand®, but from now on with the support, experience and global resources of HMS.
This operation will allow HMS to expand its product range in the global market, as well as to increase its customer base in the Spanish market.
Intesis was founded in 2000 and is based in Igualada (Barcelona). It markets its building automation solutions under the brand IntesisBox, and works closely with leading manufacturers of air conditioning and building automation systems worldwide.
Intesis has 30 employees, including nine product development engineers. In 2015 it had a net turnover of €5.6 million and an ebitda of €2.4 million. In the last three years, its sales have grown by more than 20% annually.
The purchase of Intesis is not the first one made by HMS in 2016. Earlier this year it bought Belgian company eWONwhich has subsidiaries in the US and Japan.
Ewon offers state-of-the-art communication products and services for industrial applications such as remote access to programmable logic controllers (PLCs), data collection applications and cloud-based connectivity solutions.
With this acquisition HMS becomes the market leader in remote access and remote monitoring within the industrial communications market. The acquisition gives HMS access to eWON's successful distribution network in Europe and North America and adds approximately 15 development engineers to HMS' R&D resources. The increased R&D resources are expected to increase flexibility by creating opportunities for the development of new solutions in the field of remote management.
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