Nynomic expands technology portfolio through acquisition of MGG
The products and services of the Nynomic group are based on a wide range of intelligent sensors for measuring optical radiation and smart technologies for data acquisition, processing and evaluation.
Nynomic welcomes MGG and its team as the 10th group pillar by means of acquiring all shares in MGG Micro-Glühlampen-Gesellschaft Menzel from Possehl Mittelstandsbeteiligungen. The parties agreed on confidentiality regarding the consideration. The consideration consists mainly of shares, 116,700 Nynomic AG ordinary shares will be granted through a non-cash capital increase from authorized capital. As a long-term oriented, strategic investor, Nynomic will manage and develop MGG while maintaining its operational independence.
MGG, based in Wentorf near Hamburg, has been a well-known producer of microlightbulbs for more than fifty years, which are mainly used in the field of optical measurement technology as well as safety and medical technology applications. MGG and the Nynomic group have been working in a trustful cooperation for years, which in the future will be consequently expanded further in various projects and by the market access of Nynomic.
The highly profitable company has around twenty employees and annual sales of approximately two and a half million euros. MGG’s microincandescent lamps represent a modern component for many fields in today’s electrical and electronics industries. More than five thousand different types of lamps are produced, including those for optical measurement technology, aviation, medical and communications engineering, telecommunications and machine tooling.
By expanding its technology portfolio and integrating along the value chain, Nynomic is consistently pursuing its successful buy-and-build strategy and underlining its sustainable growth course. Its management board is convinced that the business acquisition based on the best-owner principle will contribute to the further positive development of the entire group by bundling market knowledge and product competencies as well as through the efficient use of resources.
