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Cicor successfully completes the acquisition of SMT Elektronik GmbH

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Cicor Technologies Ltd / Key word(s): Mergers & Acquisitions

27-Apr-2022 / 08:09 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Bronschhofen, April 27, 2022 - Cicor Group (SIX Swiss Exchange: CICN) announces today 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(R) 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.

For further information and questions regarding the acquisition of SMT Elektronik GmbH, Alexander Hagemann (CEO) and Peter Neumann (CFO) will be available this afternoon at 3:00 CET during a webcast. Please send your registration in advance to media@cicor.com.

Contact

Cicor Management AG
Gebenloostrasse 15
9552 Bronschhofen
Switzerland

Media & Investor Relations
Phone +41 71 913 73 00
Email: media@cicor.com

The Cicor Group is a globally active provider of full-cycle electronic solutions from research and development to manufacturing and supply chain management. Cicor's approximately 2,300 employees at twelve locations in Europe and Asia are serving leaders from the medical, industrial and aerospace & defence industries. Cicor creates value to its customers through the combination of customer-specific development solutions, high-tech components, as well as electronic device manufacturing. The shares of Cicor Technologies Ltd. are traded at the SIX Swiss Exchange (CICN). For further information please visit the website www.cicor.com.


End of ad hoc announcement

Language:

English

Company:

Cicor Technologies Ltd

c/o Cicor Management AG, Gebenloostraße 15

9552 Bronschhofen

Switzerland

Phone:

+41719137300

Fax:

+41719137301

E-mail:

info@cicor.com

Internet:

www.cicor.com

ISIN:

CH0008702190

Valor:

870219

Listed:

SIX Swiss Exchange

EQS News ID:

1336229


 

End of Announcement

EQS News Service

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