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SMT & Inspection | October 11, 2005

Investcorp to enter ownership of Mania

Investcorp has entered an agreement with Mania Technologie AG to lead an investment round to give the company a solid foundation for profitable growth.

EUR 21 million will be available to the existing shareholders for subscription. Under the terms of the agreement Investcorp will also acquire 3,000,000 shares of Mania to reach 60% ownership of the firm. "We are delighted to be working with Investcorp, a renowned partner," said Horst E Mueller, Chief Executive Officer of Mania (picture). "By strengthening our equity and working capital we will be in a position to concentrate fully on the implementation of our growth strategy. The new financial resources will be used to streamline the organization, improve internal processes further and focus on the core competencies of the company. Mania will continue and extend the product offensive we started last year. We will introduce at least ten more new products in the next 15 months, particularly in the strong growth sectors of laser imaging, electrical test and optical inspection", Mueller finished. "We are very excited about this investment. Mania is a great company with a strong management team and an excellent product portfolio. We are pleased to be able to facilitate Mania's growth plans and we look forward to sharing a very bright future. Freed from its previous financial restrictions, Mania is now in a position to implement all aspects of its strategy and to master the future challenges of the market successfully", Hazem Ben-Gacem, Managing Director at Investcorp, added.
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