updated: Jul 15, 2021 16:00 EDT
July 15, 2021(Newswire.com) –
Ascento Funds represented Proant AB, a leading IoT antenna corporation in Sweden, on a sell facet M&A transaction, in its sale to Abracon in the United States, which is backed by the non-public fairness firm the Riverside Enterprise.
Launched in 2005 and primarily based in Umeå, Sweden, ProAnt delivers cutting-edge antenna technology to a world foundation of shoppers. The Firm delivers a range of novel antennas for strength metering, health care, automotive, shopper, and industrial applications. Abracon, LLC is an marketplace leader in passive components, supplying frequency manage & timing device, RF & antenna, and inductor & connectivity options by means of a world wide distribution community.
“Proant’s good results with antennas is attributed to providing value-productive and robust connectivity to our consumers,” said Tomas Rutfors, CEO and founder of Proant AB. “Now, by becoming a member of forces with Abracon, we increase our geographic footprint through Abracon’s excellent world wide income channels. With each other with the Abracon antenna team, Proant will keep on to acquire and offer antenna solutions supporting current market desires.”
Mr. Rutfors also commented, “Ascento Capital represented Proant in this transaction. Ben Boissevain led the deal and did a fantastic task. He done a international look for with a large outreach to in excess of 100 targets. We experienced severe fascination from companies in the United States, Europe, and Asia. Due to the vigorous auction process, the valuation of Proant exceeded my expectations.”
About Ascento Money, LLC
Ascento Cash is a New York-primarily based financial investment lender. Ascento Capital focuses completely on the tech sector and has comprehensive experience in Artificial Intelligence, Facts, Analytics, MarTech, PropTech, FinTech, InsurTech, RegTech, HealthTech, IoT, Cloud, eCommerce, SaaS, UCaaS, IT Services and Digital Media.
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Supply: Ascento Funds