Lacroix completes its acquisition of Firstronic
EMS provider Lacroix has completed its acquisition of a majority stake in Firstronic in the US.
With the completion of the acquisition, the EMS provider is on track with its new strategic plan LEADERSHIP 2025, under which international development is key focal point, notably in the United States and Germany. Firstronic is an EMS provider serving customers in the North American automotive, industrial and health sectors. The company has two production sites in Michigan, USA and in Mexico, with a team of nearly 1,300 people. Driven by strong growth, the company anticipates 2021 revenue of nearly USD 140 million and EBITDA over 9%. Lacroix now holds 62% of the capital of Firstronic, a takeover accompanied by co-investment by the Bpifrance International Build-up Fund, which holds 26% of the capital.