Hexagon has sold its TESA PMI (Precision Measurement Instruments) business, a Swiss-headquartered leading global specialist in manufacturing high precision dimensional measurement instruments, to Hangzhou GreatStar Industrial Company Ltd., a leading world-wide tool manufacturer.

TESA PMI is one of the leading global manufacturers of sub-micron high-precision measurement instruments and has been an innovator in this industry for more than 80 years. End-users from more than 30 countries and industries such as aerospace, metal processing, medical, and watchmaking trust in TESA PMI to provide highest quality measurement instruments ensuring highly consistent and accurate measurement for high precision manufacturing environments.

Hangzhou GreatStar Industrial Co. Ltd. (SZSE:002444) was established in 1993 and is the world's second largest manufacturer of tools and storage products sold under various well-known brands such as Arrow, Pony, and Lista. In 2022, GreatStar employed approx. 13,000 people and generated revenues of EUR 2.0 billion.

Hexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. Hexagon (Nasdaq Stockholm: HEXA B) has approx. 24,000 employees in 50 countries and net sales of approx. EUR 5.2 billion.

The IMAP team exclusively advised Hexagon and TESA PMI in a structured M&A process through all phases until the successful signing.