Altdorf, Switzerland – Dätwyler Holding Inc. has sold its Distrelec and Nedis distribution companies to focus more on its sealing business, the group announced 23 Dec.
The sale to German investment firm Aurelius is due to be completed in the first quarter of 2020, subject to conditions according to the statement. Terms of the deal were not disclosed.
The Swiss group said it is also evaluating options for the sale of Reichelt, another electronics distributor company.
Electronic component distributors Distrelec and Nedis generated 2018 sales of around CHF300 million, with some 850 employees.
The disposal will lead to a loss of around CHF670 million (€615 million) with no impact on liquidity, according to Datwyler.
The move will increase the group’s focus on its “fast-growing, high-margin sealing business,” said Datwyler.
In particular, Datwyler aims to advance its position as a development partner for “system-critical” sealing components in the healthcare and automotive industries.