Scanfil: Completion of the MB acquisition is postponed until January

Translation: Original published in Finnish on 11/20/2025 at 07:50 am EET

Scanfil announced yesterday that the completion of its MB Elettronica acquisition is expected to be postponed to January 2026. Previously, the transaction was expected to be completed during Q4’25. A slight delay in the transaction schedule causes minor downward revisions to our Q4 estimates, but this has no practical impact on the fair value of the stock. 

MB Elettronica acquisition postponed to next year

Scanfil announced that the closing of its MB Elettronica acquisition, announced in July 2025, has been postponed and is now expected to close in January 2026. The company said the acquisition has received regulatory approval. Scanfil also announced that, according to MB's management, production at the Cortona plant has continued without significant disruptions since the October fire. Our comments on the transaction can be found here and on the fire here.

The slight delay has no impact on the fair value of Scanfil's stock

The transaction shifting to next year is a slight setback, as we expected it to be completed during Q4 in line with the original schedule, even though we had already moved the completion schedule forward slightly in connection with the previous update. The minor extension of the transaction schedule puts slight downward pressure on our Q4 forecasts for Scanfil. However, a slight delay in the schedule has no practical effect on the fair value of the stock. The continuation of production at MB's largest unit, the Cortona plant, after the fire without major disruptions was, in our opinion, a slightly risk-reducing signal, even though we did not expect major production disruptions in our estimates. 

Scanfil also has the ADCO acquisition in the US in the final stages, which we understand is awaiting regulatory approvals. The completion of this transaction has also been slightly delayed from the original schedule (Q3), but we expect the transaction to be completed in Q4. Our comments on the ADCO transaction can be found here.