On average, acquisition candidates have annual sales of approximately 200 MSEK. However, a handful of companies are significantly larger with sales of more than 1 500 MSEK.
Hexagon's expansion capacity is limited by the restriction imposed by financiers, which entail that net debt must not exceed 3.5 times pro forma EBITDA over 12 months.
The acquisition price varies and is determined based on factors such as the acquired company's growth and operating margin. With a structured and well-conceived integration process, the acquired company's enterprise value should be less than 10 times operating profit approximately 12 months after acquisition.