Leoni sells fiber optics and j-plasma units
The automotive supplier says that it is selling its subsidiaries Leoni Fiber Optics GmbH, Leoni Fiber Optics, Inc. and j-plasma GmbH to a consortium of buyers around Weinert Industries AG.
Leoni Fiber Optics and j-plasma's portfolio includes special fibers in the areas of optical metrology and industrial data transmission. Leoni AG has previously stated its intention to focus on consolidating its position as a supplier and service provider of wiring systems for passenger cars and commercial vehicles – for example in the growing business of alternative powertrains. Leoni has already sold several non-automotive units in 2021 (Business Group Industrial Solutions, Leoni Schweiz AG and the data communication and compound units of Leoni Kerpen GmbH). The sale of Leoni Fiber Optics and j-plasma is carried out as a management buy-out supported by investors: Weinert Industries AG consists of Andreas Weinert, Thüringer Industriebeteiligungs GmbH & Co. KG and Mittelständische Beteiligungsgesellschaft Thüringen mbH. Andreas Weinert had founded part of the now sold units himself in 2001 and currently serves as Director Technology Management of Leoni Business Unit Fiber Optics. He will head the company, which will operate under the name Weinert Group, with around 300 employees at six locations in Germany and one in the U.S. The sold activities generated sales of around EUR 50 million in fiscal year 2020. “We have always been committed to finding investors for Leoni’s WCS units who can strategically develop the business. With the consortium around Andreas Weinert, we are now handing over Leoni Fiber Optics GmbH, Leoni Fiber Optics, Inc. and j-plasma GmbH to a buyer who knows the products, services and good positioning in the market like no other,” explained Aldo Kamper, CEO of Leoni AG in the press release. “One of our main concerns is to particularly secure jobs in Germany and in the U.S. – and to do so in the long term. The employees with their know-how, motivation and inventive spirit, are among the decisive success factors for our joint future success,” adds Andreas Weinert on behalf of the consortium of buyers, seeing a win-win situation as well. The manager with 30 years of experience in the industry stated that the Weinert Group will be one of the leading manufacturers in specialty fiber optics. The closing of the transaction is expected in the first quarter of 2022.