KATEK and SigmaPoint ink share purchase deal
KATEK and the shareholders of Canadian EMS provider SigmaPoint Technologies, have signed a share purchase agreement to acquire all shares of SigmaPoint.
As previously reported, the deal will strengthen KATEK's presence in the industry to include Homeland Security & Defense.
The negotiation of the purchase agreement was completed in record time. The agreement includes the acquisition of 100% of the shares at a fixed price upon closing and an earnout provision for the years 2023 and 2024. The transaction is still subject to necessary regulatory approvals, but is expected to close soon.
"SigmaPoint, with its outstanding lean manufacturing expertise in the area of series production of high-value electronics, enriches the production network strategy of the other KATEK entities and, in return, benefits from KATEK's excellent supply chain management, which is mastering the supply crisis very successfully," says Jürgen Lauter, Group Director Strategic Projects at KATEK in a press release.
Rainer Koppitz, CEO and Co-Founder of KATEK, says in the press release that the very good cooperation during the due diligence process on both sides reinforced the impression of a very good match of corporate culture and values. Something he believes will significantly facilitate the realisation of large existing synergies in the areas of sales, supply chain and lean manufacturing.
"SigmaPoint's largest customer in North America is also one of KATEK's top 5 customers in Europe and has already announced its intention to significantly expand its business with SigmaPoint," says Rainer Koppitz.
Dan Bergeron, CEO of SigmaPoint, will continue to run the entity with his management team.