Italian EMS deal to boost Finnish manufacturing giant
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Scanfil in Finland is to buy an Italian manufacturer to boost its European electronics manufacturing services (EMS) business.
The deal to buy MB Elettronica for up to €123m will create a company with 16 factories and 4500 people on four continents. MB Elettronica had a turnover of €98m in 2024 and operates four factories in Italy, employing around 500 people with a focus on Aerospace & Defence, Healthcare & Medtech, and Transportation.
Scanfil plc is Europe’s largest listed provider of electronics manufacturing services (EMS) with a turnover of €780m in 2024 and paid €73m with €50m for hitting targets in 2025 and 2026.
The Scanfil services for the making equipment for the Industrial, Energy & Cleantech, and Medtech & Life Science markets include design, prototype manufacture, design for manufacturability (DFM) services, test development, supply chain and logistics services, circuit board assembly, manufacture of subsystems and components, as well as systems integration.
MB employees will continue in their current roles as part of the Scanfil Group and the MB headquarters in Cortona will become the competence centre for Aerospace & Defense of Scanfil.
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This puts Scanfil up with GPV of Denmark (turnover €1.19bn) as the number two European EMS company after privately-held Zollner Elecktronik in Germany, which as a group has a turnover of €3.7bn, according to Reed Electronics Research.
“By joining forces, we create a European EMS powerhouse with a strong presence in Italy and Aerospace & Defence,” said Christophe Sut, CEO of Scanfil. “For MB employees, a large company creates new career and personal development opportunities. For MB customers, a larger company means improved service offering with global manufacturing and delivery capabilities.”
“Scanfil has a family-owned background and MB is a family company. There is a similar dynamic in the operating cultures and entrepreneurship is highly valued in our corporate values. Our employees are highly skilled and motivated, which is and will be the key success factor for EMS,” said Roberto Banelli, CEO of MB.
“The combination of the two companies will create value for our customers and employees. I am excited that MB is becoming part of the Scanfil family, and I look forward to seeing MB grow stronger under the new ownership.”
“I started in 1961, and I am happy that together with my children we managed to bring the company to this level and employ more than 500 people. And today, with pride, we were able to reach an agreement with Scanfil to make the company grow even more. I wish everyone a good job,” said Francesco Banelli, the founder of MB Elettronica.
The closing of the deal is expected to take place in the fourth quarter of 2025.
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