HANZA acquires Milectria Group to strengthen its position in the defence sector

HANZA AB has reached an agreement to acquire 100% of the shares in Milectria Group, a specialized contract manufacturer serving the defence industry. This acquisition marks a key milestone in HANZA’s LYNX strategic program, which focuses on expanding the company’s presence in high-priority sectors such as defence and security. The transaction is valued at approximately EUR 16 million, with the potential for additional earn-out payments of up to EUR 18 million, subject to performance-based targets.

Milectria manufactures advanced electrical systems used in military vehicles, weapon systems, and other applications designed for demanding environments. Milectria operates one production facility in Finland, two in Estonia, and also manages offset business activities in Abu Dhabi.

Through this acquisition, HANZA significantly reinforces its position in one of Europe’s fastest-growing industries. The evolving security landscape has increased the demand for regionally based advanced manufacturing capabilities for defence-related products. HANZA’s unique business model – offering customized, regional solutions that integrate both mechanics and electronics – makes it well equipped to meet this growing need. The company also brings extensive experience in defence manufacturing to the table.

COBALT provided HANZA with expert guidance on Estonian legal matters throughout the transaction, including legal due diligence, preparation of the transaction documents and signing process. Our team consisted of Partners Martin Simovart and Jesse Kivisaari, Senior Associate Liina Saaremets and Associate Ken Saksniit.