Cicor completes the acquisition of SMT Elektronik GmbH
Cicor Group has completed the acquisition of SMT Elektronik GmbH located in Dresden, Germany.
Cicor is taking a further step in the implementation of its growth strategy. By integrating SMT Elektronik GmbH – with its 130 employees at the company's site in Dresden – Cicor is specifically expanding its EMS business in Germany.
SMT Elektronik and the Cicor Company RHe Microsystems GmbH, located just a few minutes away, will be operated as a single organisational unit under the name "Cicor Deutschland" with immediate effect.
SMT Elektronik has a loyal customer base, which is predominantly related to Cicor's target markets of medical and industrial technology. The company generated sales of around EUR 20 million in fiscal year 2021 with an EBITDA margin at a comparable level to Cicor's.