The Knowledge Base: The Impact of Harsh Environments on Residue Tolerance
Standard of Excellence: Hiring for Quality Positions in Manufacturing, Engineering, and Management
Global Citizenship: What I’ve Learned About the American PCB Business
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
AI and Interactive Demand to Drive Humanoid Robot Market Value Beyond $2 Billion by 2027
12/01/2024 | TrendForceTrendForce’s latest findings show that the global humanoid robot market is expected to surpass US$2 billion in value by 2027, supported by major robotics manufacturers gradually achieving mass production by 2025.
Artificial Intelligence Infrastructure Spending to Surpass the $100B Mark in the Next 5 years
11/27/2024 | IDCThe global Artificial Intelligence (AI) infrastructure market is on track for unprecedented growth, poised to surpass $100 billion USD in spending by 2028, according to the latest findings from the International Data Corporation (IDC) Worldwide Semiannual Artificial Intelligence Infrastructure Tracker.
33 Million North Americans Used Connected Care Solutions in 2023
11/27/2024 | Berg InsightA new report from the IoT analyst firm Berg Insight has found that around 33.3 million people in North America were using connected care solutions at the end of 2023.
WSTS Semiconductor Market Forecast Spring 2024
11/26/2024 | WSTSWSTS has adjusted its Spring 2024 forecast upwards, projecting a 16.0 percent growth in the global semiconductor market compared to the previous year.
Plasmatreat Expands its International Network and Opens a Subsidiary in Mexico
11/26/2024 | PlasmatreatOn-site sales, consulting, application engineering and service for local companies and global corporations based in Mexico: Plasmatreat GmbH has opened another branch in Querétaro, Mexico, to provide even better and more direct support to users and interested parties of atmospheric pressure plasma technology. Plasmatreat continues to expand its international network.