Global Citizenship: Redefining Connection and Responsibility in Digital Transformation
The Marketing Minute: Strategic Short-form Content Builds Brand Momentum
SMT Perspectives and Prospects: Artificial Intelligence, Part 5: Brain, Mind, Intelligence
LACROIX: Closing of the FIRSTRONIC Acquisition
January 11, 2022 | GlobeNewswireEstimated reading time: 1 minute
LACROIX announces the closing of the acquisition of a majority stake in FIRSTRONIC in the US. This follows the announcement of the signing of an exclusive agreement dated December 16, 20211.
With the completion of the announced transaction, LACROIX is already well on track with its new strategic plan LEADERSHIP 2025, international development being one of its foundation, notably in the United States and Germany.
As a reminder, FIRSTRONIC is an EMS (Electronics Manufacturing Services) serving very large customers, mainly in the automotive, industrial and health sectors, in North America. The company has two production sites in Michigan,USA and Mexico, with a team of nearly 1,300 people. Driven by strong growth, the company anticipates 2021 revenue of nearly $140 million and EBITDA over 9%.
Through this historic acquisition, LACROIX intends to create a multi-continental leader in electronic equipment and industrial IoT solutions and benefit from significant industrial and commercial synergies.
LACROIX now holds 62% of the capital of FIRSTRONIC, a takeover accompanied by co-investment by the Bpifrance International Build-up Fund, which holds 26% of the capital.
In accordance with current accounting standards, LACROIX's new American subsidiary will be consolidated in the accounts as of December 31, 2021.
LACROIX will announce its revenue and margin targets for the 2022 financial year at the time of the next publication of the 2021 annual results, on 23 March 2022.
In addition, the Group intends to continue with its roadmap with, including new international acquisitions, for its Environment and City activities, while maintaining debt under control.
Share on:
Suggested Items
Electronic System Design Industry Posts $4.9 Billion in Revenue in Q4 2024
04/15/2025 | SEMIElectronic System Design (ESD) industry revenue increased 11% to $4,927.3 million in the fourth quarter of 2024 from the $4440.9 million reported in the fourth quarter of 2023, the ESD Alliance, a SEMI Technology Community, announced in its latest Electronic Design Market Data (EDMD) report.
Gartner Says Worldwide Semiconductor Revenue Grew 21% in 2024
04/10/2025 | Gartner, Inc.Worldwide semiconductor revenue totaled $655.9 billion in 2024, up 21% from $542.1 billion in 2023, according to final results by Gartner, Inc. NVIDIA climbed to the No. 1 position, overtaking Samsung Electronics and Intel for the first time.
Bonso Electronics Reports on Redevelopment of the Shenzhen Factory and Potential Loss of Revenue
04/09/2025 | PRNewswireBonso Electronics International, Inc., a designer and manufacturer of sensor based products and pet electronic products, today reported on the redevelopment of its Shenzhen factory and a potential loss of revenue for the fiscal year ending March 31, 2026.
Siemens Acquires Dotmatics to Extend AI-powered Software Portfolio to Life Sciences
04/07/2025 | SiemensSiemens AG announces that it has signed an agreement to acquire Dotmatics, a leading provider of Life Sciences R&D software based in Boston, for $5.1 billion from Insight Partners.
Zhen Ding Releases March 2025 Monthly Revenue Report
04/07/2025 | Zhen Ding TechnologyZhen Ding Technology Holding Limited, a global leading PCB manufacturer, today reported March 2025 revenue of NT$14,408 million, up 29.88% YoY and up 18.06% MoM, marking a record high for the same period in the company’s history.