DELTANORDIC acquired by KITRON
Context
Kitron ASA has announced the acquisition of DeltaNordic AB. The transaction was disclosed in a press release in November and involves the purchase of all outstanding shares from the current owners. Completion is subject to approval by Swedish competition and strategic product authorities and is expected in late December or early January. The acquisition aligns with Kitron’s objective to deepen its presence in the defence and aerospace sector and to extend its engineering capabilities in rugged electronics. By adding DeltaNordic’s expertise in designing and producing systems for high‑risk environments, Kitron aims to broaden its service offering and to capture growth in markets such as defence, mining and infrastructure that demand resilient solutions. Post‑closing, the combined entity is expected to integrate design teams and harmonize production processes across Europe and Asia, creating capacity for larger programmes and reducing overlap in customer bases. The integration should enhance the ability to deliver complete system solutions, improve supply‑chain resilience and support entry into new contracts that leverage the expanded technical portfolio.
DELTANORDIC, which reported an EBITDA margin of in 2026, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).
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Target
DeltaNordic AB is a Swedish engineering company that designs and manufactures advanced electronics and electrical systems for sectors requiring high reliability. Its product portfolio includes ruggedized control units, power distribution modules, sensor interfaces and custom‑engineered wiring solutions that meet stringent environmental and safety standards. The firm supplies its offerings to blue‑chip customers operating in defence, mining, construction and infrastructure, focusing on projects where system failure carries substantial cost. Design activities are carried out in Stockholm, while production is split between two facilities in Sweden and an additional plant in Nanjing, China, enabling a mix of European engineering oversight and Asian manufacturing capacity. DeltaNordic follows a contract‑manufacturing model in which it assumes responsibility for product development, prototyping, series production and after‑sales support, generating revenue through long‑term supply agreements and project‑based contracts. The company has built a reputation for delivering solutions that integrate high‑performance electronics with robust mechanical enclosures, catering to both government programmes and private‑sector infrastructure projects. Its customer base is diversified across multiple high‑value markets, reducing reliance on any single industry. Since its inception, the organization has expanded its technical expertise through continuous investment in testing facilities and certification processes, positioning itself as a specialist provider within demanding application environments.
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REFERENCES
Valuation range: EV 100M - 350M EUR
Revenue range: 50M - 100M EUR
EBITDA range: 5M - 25M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: deltanordic
Acquirer: kitron