Icape acquires Bordan Electronic Consult
Yesterday, Icape announced the acquisition of 100 percent of the assets of Bordan Electronic Consult, a German company specializing in the design of "custom-made" technical parts.
Icape Group says it is consolidating its technological expertise by integrating Bordan Electronic Consult’s assets in Germany, a press release reads.
The long-term partnerships forged by Bordan Electronic Consult is said to enable the Icape Group to diversify its sourcing with suppliers based in Germany, Japan and Taiwan. The integration of this new asset within the group should also generate potential purchasing, cost and sales synergies in the short and medium term.
"We are delighted to be able to integrate Bordan Electronics Consult’s assets into Icape Group. This well-known German player in the distribution of custom-made technical parts reinforces our position as a technological expert at the service of our industrial customers. This new operation should also contribute to generate synergies by pooling our respective know-how. The objective of this acquisition, in line with our external growth strategy and our previous operations in this high-stake territory, will be to participate in the improvement of our local subsidiary's organic growth and profitability," says Yann Duigou, CEO of Icape Group, in the press release.
Since 2002, Bordan Electronic Consult has been developing services focused on the distribution of technical parts to some thirty customers, mainly based in Germany. Approximately 80 percent of the products are custom-made. In 2022, the company generated 0.9 million euro in revenue and a gross margin of over 35 percent.
In line with the Icape's previous acquisitions in Germany, such as HLT in May 2023 and Princitec in September 2023, this operation was carried out by the subsidiary Cipem Deutschland Gmbh and financed 100 percent in cash. The integration of this new asset in the Group's accounts is effective from November 27, 2023.