W5 Solutions identifies growth in live fire market
W5 Solutions AB has entered into an agreement to acquire MR Targets AB, a fellow Swedish ground target equipment manufacturer.
W5 Solutions develops, designs and delivers technology-based solutions for civil protection and defence to governments and companies, including live and virtual training systems. The company said that the acquisition is to meet a ‘growing demand within the live-fire training market’.
The company explained that live-fire training is part of its largest business unit and generates up to approximately 65% of its turnover. With this acquisition, W5 Solutions will expand its live-fire training product range, increase production capacity and hope to strengthen its position within the shooting target equipment market.
W5’s latest live-fire training success was the award of a €1.6 million ($1.75 million) follow-on contract for range targets and equipment from a ‘Scandinavian military customer’ in December 2021.
‘This is an important acquisition due to the increased customer demand in this business area considering the recent geopolitical environment,’ said Daniel Hopstadius, CEO at W5 Solutions.
‘There are many opportunities for synergies between the two companies through this acquisition.’
Although MR Targets has specialised in the sport side of live fire training, the company had previously supplied W5 Solutions with a number of its products, including range control systems.
The acquisition is expected to be completed in April 2022 and is valued at SEK20 million ($2.03 million).
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