Nordstjernan has entered an agreement to divest its holding in Salcomp, a world-leading manufacturer of chargers for mobile phones and other electronic products for the smart and connected world, to Lingyi iTech. Lingyi is a listed Chinese component manufacturer with sales of more than USD 3 billion in 2018.
Salcomp, founded in 1975, reported sales of EUR 531 million in 2018. Its customers comprise all major manufacturers of mobile phones and the company has production facilities in China, India and Brazil. Nordstjernan has been owner of Salcomp since 2007 and currently owns 55 percent of the capital and votes. The transaction is being conducted jointly with the Sixth Swedish National Pension Fund (AP6), which has owned 45 percent of the capital and votes in Salcomp.
The transaction is subject to the approval of the regulatory authorities in China and Taiwan.
“Nordstjernan has been a long-term owner of Salcomp, a world-leading company in a highly competitive global market. We have now found what we consider to be the right industrial home for Salcomp. The merger will provide the company with greater possibilities to offer its customers a broader product portfolio. I would also like to take this opportunity to extend my sincere thanks to the management and all the employees at Salcomp for our time together,” says Peter Hofvenstam, President and CEO of Nordstjernan.
President and CEO
Questions will be answered by:
Peter Hofvenstam, CEO Nordstjernan
Stefan Stern, Head of Communications Nordstjernan
Telephone: +46 70 636 74 17
Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term and positive value growth. More information about Nordstjernan can be found on www.nordstjernan.se.