HMS Networks AB (publ) acquires 70% shares of Procentec B.V.

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HMS CEO Staffan Dahlström (right) and Procentec CEO Pieter Barendrecht (on-screen) presenting the acquisition.

HMS Industrial Networks AB, a wholly-owned subsidiary of HMS Networks AB (publ), has acquired 70% of all shares in the Dutch company Procentec B.V. Headquartered in Rotterdam, Procentec is a world leader in solutions and services for diagnostics and monitoring of industrial networks.

Staffan Dahlström, CEO, HMS Networks said: “Procentec fills a gap in HMS’ offering within communication infrastructure. Industrial networks are vital in industrial processes, and Procentec’s products and services improve uptime and data availability significantly in these critical networks. With Procentec, HMS gets access to an aftermarket business related to the huge installed base of industrial networks globally, positioning HMS much closer to the end-users of industrial networks. This is a very interesting new dimension for HMS given the fact that we today mainly supply products to device manufacturers and machine builders.”

Pieter Barendrecht, CEO, Procentec B.V. said: “We are very excited to become part of HMS which opens up new doors for Procentec. HMS’ size and international presence will be a great asset for Procentec in our continued expansion. There will also be excellent opportunities for IP-sharing between the companies, as well as for co-creation of solutions related to industrial networking and Industry 4.0.”

The 70% share in Procentec was acquired by HMS from the founders, who are no longer active in the company. The remaining 30% is owned by the existing management team, who will keep their management positions and continue running the Procentec business.

With about 70 employees and subsidiaries in Germany, Italy and the UK, the Procentec Group had consolidated sales of EUR 11.7 million in 2019. The acquisition will have a limited impact on HMS’ earnings per share going forward.

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