Altdorf, Switzerland – Dätwyler Holding Inc. has completed the sale of its Distrelec and Nedis distribution to German investment firm Aurelius, the group announced 16 March.
The deal, terms of which were not disclosed, was announced on 23 December 2019.
At the time, Dätwyler said its electronic component distributors Distrelec and Nedis generated 2018 sales of around CHF300 million (€283 million), with some 850 employees.
The disposal will lead to a loss of around CHF670 million with no impact on liquidity, according to Datwyler.
In a statement 16 March, the Swiss group said it will now centre its focus on the “fast-growing, high-margin sealing business” for attractive global markets.
Dätwyler said its core competencies made it a “valued development partner” for quality, system-critical sealing components in the healthcare and automotive industries.
The sealing supplier expects to achieve profitable growth above the average of the markets it serves, helped by its market position, new product lines, and ongoing efficiency-improvement programmes.
The Swiss group expects to attain half of its future revenue from the healthcare business and its long-term customer Nespresso, both of which it said were “low cyclical markets that are growing steadily.”