ADVERTISEMENT
Press release content from Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Newswire
Press release content from Newswire. The AP news staff was not involved in its creation.

Ascento Capital Advises Proant, a Leading IoT Company in Sweden, in Its Sale to Abracon in the United States

July 15, 2021 GMT

NEW YORK - July 15, 2021 - ( Newswire.com )

 Ascento Capital represented Proant AB, a leading IoT antenna company in Sweden, on a sell side M&A transaction, in its sale to Abracon in the United States, which is backed by the private equity firm the Riverside Company.
 
Founded in 2005 and based in Umeå, Sweden, ProAnt provides cutting-edge antenna technology to a global base of customers. The Company delivers a variety of novel antennas for energy metering, medical, automotive, consumer, and industrial applications. Abracon, LLC is an industry leader in passive components, providing frequency control & timing device, RF & antenna, and inductor & connectivity solutions through a global distribution network.
 
“Proant’s success with antennas is attributed to providing cost-effective and robust connectivity to our customers,” said Tomas Rutfors, CEO and founder of Proant AB. “Now, by joining forces with Abracon, we increase our geographic footprint through Abracon’s excellent global sales channels. Together with the Abracon antenna team, Proant will continue to develop and supply antenna solutions supporting market needs.”
 
Mr. Rutfors also commented, “Ascento Capital represented Proant in this transaction. Ben Boissevain led the deal and did a terrific job. He conducted a global search with a wide outreach to over 100 targets. We had serious interest from companies in the United States, Europe, and Asia. Due to the vigorous auction process, the valuation of Proant exceeded my expectations.”
 
About Ascento Capital, LLC
Ascento Capital is a New York-based investment bank. Ascento Capital focuses exclusively on the tech sector and has extensive experience in Artificial Intelligence, Data, Analytics, MarTech, PropTech, FinTech, InsurTech, RegTech, HealthTech, IoT, Cloud, eCommerce, SaaS, UCaaS, IT Services and Digital Media.

ADVERTISEMENT

CONTACT:
 
Ascento Capital
Ben Boissevain
Managing Partner
(646) 286-4589
ben@ascentocapital.com

www.ascentocapital.com
https://twitter.com/benboissevain
https://www.linkedin.com/in/benboissevain

Press Release Service by Newswire.com

Original Source: Ascento Capital Advises Proant, a Leading IoT Company in Sweden, in Its Sale to Abracon in the United States