Hangzhou Greatstar Industrial Co., Ltd agreed to acquire Tesa PMI (Precision Measurement Instruments) Business of Hexagon AB.
December 18, 2023
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Hangzhou Greatstar Industrial Co., Ltd agreed to acquire Tesa PMI (Precision Measurement Instruments) Business of Hexagon AB (publ) on December 19, 2023. For the period ended 2022, Tesa PMI reported ?50.9 million in revenues. The sale is subject to customary, limited closing conditions and expected to close in first quarter of 2024.
This transaction will use the proceeds raised by the company from issuance of GDR. IMAP, Inc. acted as financial advisor to Hexagon in the transaction. Jochen Reis, Simon Niedermann, Florian Kaiser and Melanie Köstler of Rödl & Partner GmbH, Legal Arm acted as legal advisro to Hexagon AB.
HANGZHOU GREATSTAR INDUSTRIAL CO., LTD. is a China-based company, principally engaged in the research and development, manufacture and distribution of hardware and tools and intelligent equipment. The Company's products include hand tools, hand-held power tools, intelligent products, laser products and robots, among others, which are applied in household daily, construction, surveying and mapping, logistics robots, security and other fields. The Company distributes its products within domestic market and to overseas markets.