The Knowledge Base: The Era of Advanced Packaging
Standard of Excellence: Finding and Developing Future Leaders in Manufacturing
Global Sourcing Spotlight: Navigating the Variables of Holiday Schedules in Global Sourcing
Cicor Successfully Completes the Acquisition of SMT Elektronik GmbH
April 27, 2022 | CicorEstimated reading time: 1 minute
Cicor Group announces that the acquisition of SMT Elektronik GmbH located in Dresden (Germany) has been successfully completed. The closing of the transaction will take place today and will be financed by the existing credit facilities and the funds from the mandatory convertible bond (MCB) issued in January.
Cicor is taking a further step in the implementation of its communicated growth strategy. By integrating SMT Elektronik GmbH, founded in 1990, with its approximately 130 employees at the company's site in Dresden, Cicor is specifically expanding its Electronic Manufacturing Services (EMS) business in Germany and becoming an even more important provider in the largest market for sophisticated electronics in Europe. SMT Elektronik and the Cicor Company RHe Microsystems GmbH, located just a few minutes away, will be operated as a single organizational unit under the name "Cicor Deutschland" with immediate effect, which will result in considerable synergies.
SMT Elektronik has an attractive and loyal customer base, which is predominantly related to Cicor's target markets of medical and industrial technology. The company has generated sales of around EUR 20 million in fiscal year 2021 with an EBITDA margin at a comparable level to the Cicor Group. The integration into the EMS division of the Cicor Group opens up new opportunities for the customers of SMT Elektronik as well as of the Cicor Group.
Complementary technologies and synergies in materiel sourcing will result in a broader range of services for them with immediate effect. SMT customers will furthermore benefit from Cicor's global presence and comprehensive capabilities.
As part of the transaction, Cicor also acquires the data logger business that SMT has successfully built up over the last few years. These Monilog® branded products serve the fast growing market for risk logging and measurement and will be further developed as part of the Cicor Group in the future.
Share on:
Suggested Items
Green Tech Accelerator: Tackling Water Resource Challenges and Unlocking Renewable Energy Opportunities
12/26/2024 | BUSINESS WIREGreen Tech Accelerator collaborates with startups, offering courses, mentorship, and international market strategies to implement and validate carbon reduction solutions. This Taiwanese initiative empowers SMEs to progress toward net-zero emissions.
IDC: China Becomes the Largest Wrist-Worn Device Market, Leading Global Growth
12/26/2024 | IDCAccording to the latest Worldwide Wearables Quarterly Tracker released by International Data Corporation (IDC), the global wrist-worn device market shipped 139.0 million units in the first three quarters of 2024, a year-over-year decline of 1.0%, mainly due to the homogenization of competition and market saturation in India and the United States.
Mycronic Receives $6-8 Million SLX Mask Writer Order
12/26/2024 | MycronicMycronic AB has received an order for an SLX mask writer from an existing customer in Asia. The order value is in the range of $6 to $8 million. Delivery of the system is planned for the first quarter of 2026.
Diverging Electrification Goals between Honda and Nissan; Accelerated Resource Integration will be the Top Priority Post-Merger
12/25/2024 | TrendForceHonda and Nissan—two of Japan’s largest automakers—announced on December 23rd, 2024, that they have entered into merger negotiations, with plans to finalize an agreement by June 2025. Mitsubishi Motors is also expected to join the partnership.
Market-Comms, VNU Asia Pacific Unite to Drive THECA 2025 as a PCB Industry Game-Changer
12/23/2024 | EINPresswire.comThailand Electronics Circuit Asia (THECA) 2025 has officially announced its event partnership with Market-Comms Co., Ltd. (MCOMMS), No.1 local public relations firm, and VNU Asia Pacific, the designated show manager for the event.