AFL buys Swedish competitor

AFL, a Buckinghamshire-based radio frequency engineer and wireless technology company, has bought rival Avitec for £24 million. The deal was backed by private equity firm ECI Partners.


AFL, a Buckinghamshire-based radio frequency engineer and wireless technology company, has bought rival Avitec for £24 million. The deal was backed by private equity firm ECI Partners.

AFL, a Buckinghamshire-based radio frequency engineer and wireless technology company, has bought rival Avitec for £24 million. The deal was backed by private equity firm ECI Partners.

Avitec was sold by private equity firms CapMan and 3i, together with a number of private investors. Senior debt and mezzanine finance was provided by The Royal Bank of Scotland and Investec.

Under the terms of the deal, Avitec’s management has joined the enlarged group, with founder Hakan Samuelsson becoming chief technical officer.

AFL’s chief executive Ian Brown says the deal has created a product range and distribution network that will challenge the main players in the US and China.

This is AFL’s first acquisition since ECI Partners backed a £56 million management buy-in at the company in January, and has created a group with annual sales of more than £40 million and 300 employees.

The enlarged group will manufacture standard and customised systems designed to extend the coverage of mobile telecom networks in confined areas such as tunnels, metro systems and remote rural areas as well as in trains and aircraft.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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