Scandinavian Astor Group has completed the acquisition of Airsafe Sweden AB, which offers design, manufacturing, and sales of military and civil aviation safety equipment. Airsafe will be reported as a subsidiary and consolidated into the group, the company states in a press release.

The acquisition was financed through a directed share issue, with an initial purchase price of 20 million kronor and a potential additional purchase price of up to 5 million kronor, depending on achieved financial targets.

– We are pleased to have completed the acquisition of Airsafe Sweden AB, which represents a significant step for Astor Group in the defence sector. Through this acquisition, we strengthen our position and expand our sales of defence products, not least through their order book, which as of the end of March amounted to approximately 21 million kronor. The acquisition has been made possible through a successful directed share issue, and we look forward to integrating Airsafe into our group structure, says Astor Group's CEO Odd Werin in the press release.

This marks the second acquisition that Astor has completed within six months. In December 2023, Astor acquired Mikroponent - an industrial company in laser cutting and etching based in Värnamo.