Salcomp Group was acquired by Lingyi iTech for $100M

Salcomp, a Finland-based company which is a manufacturer of chargers for mobile phones and other electronic products, was acquired by Guangdong, China-based Lingyi iTech.

The deal values the company at EUR 88M ($100M) and was made with Salcomp’s owners Nordstjernan and AP6 for the purchase of 100% of the shares of Salcomp Group. Salcomp was jointly owned by Nordstjernan and the Sixth Swedish Pension Insurance Fund, accounting for 55 percent and 45 percent, respectively, of both the capital and voting rights.

The transaction is still subject to customary regulatory approvals and is expected to complete before end of the year.

Lingyi iTech is a Chinese, Shenzhen Stock Exchange listed company with sales of more than $3 billion in 2018 and several production sites in China and one production site in Vietnam. 

Salcomp, led by president and CEO Markku Hangasjarvi, is a world-leading manufacturer of chargers for mobile phones and other electronic products for the smart and connected world.

The company’s offer also includes batteries for mobile phones and products for wireless charging. Salcomp’s customers comprise all major manufacturers of mobile phones and the company has production facilities in China, India and Brazil.