© Jenoptik Business | July 03, 2020
Jenoptik is looking to accelerate growth with acquisition of TRIOPTICS
Jenoptik is acquiring 100% of the shares in TRIOPTICS GmbH, a supplier of test equipment and manufacturing systems for optical components and sensors.
The transaction will be made in two steps. First, Jenoptik will take over 75% of the shares, and the remaining shares after fulfilling certain success criteria by the end of 2021. Both parties have agreed not to disclose details of the purchase price. TRIOPTIC, which is based in Wedel near Hamburg, has over 400 employees worldwide – of which around 100 in research and development. The company generated revenues of around EUR 80 million in 2019, with an operating margin before depreciation of around 27%. Over the last four years, the company achieved on average annual growth (CAGR) of 17%. TRIOPTICS has a very strong presence in European and Asian markets with own subsidiaries and generates more than half of its revenue in Asia. CEO, Eugen Dumitrescu, and CTO, Stefan Krey, will continue to work in their positions for TRIOPTICS under the Jenoptik umbrella. The integration of TRIOPTIC will enable Jenoptik to better scale its existing test equipment business in the Light & Optics division. The acquisition also bolsters Jenoptik’s development in regards to test solutions for optical sensors in attractive growth markets, where annual growth rates of between 6% and 15% are expected over the next years. “The acquisition of TRIOPTICS is a major step in Jenoptik’s strategic development and in the process of focusing on optics and photonics. We are accelerating our profitable growth, thus placing our business on a broader and more international footing. This transaction will allow us to offer our customers a more comprehensive range of products and services for applications in the digital world. This will enable us to tap additional potential for growth in the areas of mobile data acquisition and transmission, as well as in innovative human-machine interfaces in the automotive and industrial markets, among others. The transaction also makes us less dependent on individual business cycles and customers,” says Stefan Traeger, Jenoptik President & CEO, in a press release. The acquisition has been approved by the Jenoptik supervisory board and is, however, still subject to approval by the German Bundeskartellamt. Closing is expected in the third quarter 2020.
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