Swiss EMS provider gets a new major shareholder
Swiss EMS provider, Cicor, has says that HEB Swiss Investment AG, Zurich, has sold all of its shares in Cicor Technologies Ltd. in a binding transaction to an investment vehicle of One Equity Partners (OEP).
HEB Swiss Investment AG had been a major shareholder of Cicor Group since March 2009 and held approximately 29.35% of the shares as of December 31, 2020. One Equity Partners (OEP) is a middle market private equity firm with over USD 8 billion in assets under management focused on transformative combinations within the industrial, healthcare and technology sectors in North America and Europe. The board of directors thanks the long-time major shareholder HEB for its loyalty during the development of the company and welcomes OEP as a new major shareholder. "Now a new chapter in Cicor's development towards a leading European manufacturer of high-tech electronics begins and the Board of Directors looks forward to working with OEP as a strong partner in the interest of all Cicor's stakeholders," the company writes in a short update. The closing of the transaction is subject to customary regulatory approvals.