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HUBER+SUHNER AG HUBER+SUHNER acquires UK based Phoenix Dynamics and broadens its offering in the Industry market segment

Directive transparence : information réglementée

31/10/2022 06:46

HUBER+SUHNER AG / Key word(s): Acquisition
HUBER+SUHNER acquires UK based Phoenix Dynamics and broadens its offering in the Industry market segment

31-Oct-2022 / 06:46 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.


Ad hoc announcement pursuant to Art. 53 LR - 31.10.2022

HUBER+SUHNER acquires Phoenix Dynamics Ltd, a provider of customised, assembled cable solutions, electro-mechanical assemblies, concept design and consulting for the industrial markets in Europe and North America.

Based in Staffordshire, UK, Phoenix Dynamics has been active in the aerospace and defense markets for 25 years. The company that also serves customers in industries such as automotive, energy, industrial, marine, medical, rail and security will become HUBER+SUHNER Phoenix Dynamics Ltd.

 

For aerospace and defense as well as other high-end markets, Phoenix Dynamics is specialised in customising electro-mechanical connectivity solutions, offering a wide range of cable assemblies and wiring harnesses utilising radio frequency, fiber optics and low frequency technologies. Phoenix Dynamics’ expertise includes customer support through concept design, prototyping, testing and quality assurance as well as consulting services to improve performance of existing solutions.

 

“Phoenix Dynamics is a highly valuable addition to HUBER+SUHNER,” says Urs Ryffel, CEO of HUBER+SUHNER. “Their strategic focus on complete solutions in our aerospace and defense growth markets will enable us, after integration, to offer existing customers in this subsegment end-to-end solutions based on all connectivity technologies.”

 

David Grocott, CTO and COO of Phoenix Dynamics Ltd and newly named Managing Director of HUBER+SUHNER Phoenix Dynamics Ltd., comments: “Access to the resources and the global network of HUBER+SUHNER will have a very positive impact on expanding our product and service offerings and will foster our engineering capabilities further.”

 

The acquisition of Phoenix Dynamics supports the ambition of HUBER+SUHNER to expand component sales with complete, customised solutions. The company currently generates sales in the mid-single digit million range. It will be integrated into the Industry market segment and will continue to operate out of its facilities in Staffordshire. The purchase price will be financed exclusively from own funds. Both parties have agreed not to disclose the financial details of the transaction.

 

 

This media release can be found at https://www.hubersuhner.com/en/company/media/news and is also available in German. The German version is binding.

 

Media release as PDF Link

Further calendar dates
20 January 2023: Net sales / Order intake (12 months)
7 March 2023: Annual- and Sustainability Report 2022, Media and analysts’ conference on fiscal year 2022
29 March 2023: Annual General Meeting (Pfäffikon ZH)
15 August 2023: Publication Half-year report 2023

 

HUBER+SUHNER AG
Patrick G. Köppe
Head Corporate Communications
Tumbelenstrasse 20
8330 Pfäffikon ZH
Switzerland

+41 44 952 25 60
pressoffice@hubersuhner.com
hubersuhner.com



End of Inside Information
Language: English
Company: HUBER+SUHNER AG
Tumbelenstrasse 20
8330 Pfäffikon ZH
Switzerland
Internet: www.hubersuhner.com
ISIN: CH0030380734
Valor: 3038073
Listed: SIX Swiss Exchange
EQS News ID: 1475085

 
End of Announcement EQS News Service

1475085  31-Oct-2022 CET/CEST

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