Moll Wendén assists XANO with acquisition abroad

XANO Industri AB has via its subsidiary signed a final agreement regarding the acquisition of Canline Holding B.V. The Canline Group consists of, in addition to the parent company,  four operating entities: Canline Magnetics, Canline Systems, Bakeline Systems and Canline USA. The European units are located in Bladel in the Netherlands. Moll Wendén has been responsible for providing XANO with legal advice during the acquisition process as well as the co-ordination with a Dutch law firm.

Canline’s line of business consists of the development, production and sales of automation equipment, primarily conveyor systems adapted for the lid- and jar handling industry. In addition, the business activity also entails production- and sales of magnets for industrial use.

The purchase price, paid in cash, amounts to 6.5 million euros. The total assets of the acquired companies amount to approximately 3 million euros, of which 1.2 million euros constitute equity. The companies will be included in XANO’s business unit ”Industrial Solutions” and will be consolidated into the Group as of the 1st of April 2015.

XANO consists of niched technology companies in Sweden, Norway, Estonia, Finland, Poland and China. The companies deliver manufacturing and development services for both industrial products and automation equipment. The Group’s line of business is divided into three business units; Industrial Solutions, Precisions Technology and Rotational Moulding. The XANO-share is listed in the Small Cap segment on the NASDAQ OMX Stockholm.

For further information regarding which services Moll Wendén can offer with regards to mergers and acquisitions, including foreign transactions, please contact:

Anders Steén, Lawyer and Partner, Moll Wendén Advokatbyrå. Tel: + 46 40 665 65 10, Mobile: + 46 70 326 65 10, E-mail: anders.steen@mollweden.se