Cicor Acquires Significant Business Activities of Éolane

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Cicor Group announces that its offer for the acquisition of significant business activities of the French Éolane Group has been accepted by the Paris Commercial Court. This strategic transaction marks a milestone in the execution of Cicor's pan-European growth strategy and further strengthens its market leadership in the aerospace and defence sector.

Éolane is one of the leading providers in the French Electronic Manufacturing Services (EMS) market, with a strong position in strategic sectors such as aerospace and defence, railway and nuclear technology. Since November 2024, Cicor has closely worked with Éolane's management, customers, the French Government and the court-appointed administrator, to develop a deep understanding of the business activities and to structure the acquisition of Éolane's business activities that ensures future profitability and growth. The business transfer to Cicor will be concluded on 22 April 2025 and the integration will start immediately thereafter, including the rebranding of all sites. In line with this strategic acquisition, Cicor is rigorously assessing and managing potential risks to ensure a seamless integration and to secure the long-term success of the expanded business.

As part of the acquisition, Cicor is integrating five engineering and production sites in France and two additional sites in Morocco into its existing EMS business. The transaction adds around 890 employees and CHF 125 million of profitable sales to the Cicor Group and creates significant synergy potential. The combination of Éolane and Cicor will unlock tremendous opportunities in France, enabling Cicor to exploit the attractive market potential. Cicor is delighted to welcome Éolane's talented team and their valued customers to the Cicor family and is committed to a seamless integration that respects and builds on the shared values and strengths.

Cicor's customer centricity together with a focus on operational excellence and lean overhead structures in a decentralised organisation is expected to lead to high levels of agility and customer satisfaction while reigniting business growth in France. These actions are expected to raise the current low to mid single-digit EBITDA margin over time towards the level of the Cicor Group. Additionally, Cicor will strengthen its nearshoring capacity for European customers with the two sites in Morocco that combine competitive cost with excellent logistical connections to the European continent.

With this acquisition Cicor is further strengthening its position as one of the leading pan-European EMS providers, following the earlier acquisition of MADES in Spain (estimated closing in second HY 2025) and the acquisition of the Mercury production facility in Switzerland (estimated closing in May 2025) announced in April 2025. The integration of Éolane not only expands Cicor's production capacities but also brings it a big step closer to its target of achieving a sales volume of over CHF 1 billion by 2028, with a presence in all major European markets.