Kontron acquires majority stake in Katek SE
Kontron AG will acquire around 60% of the shares in German electronics manufacturer KATEK SE.
Kontron, via its German subsidiary Kontron Acquisition GmbH, is acquiring the shares from the previous Katek majority shareholder PRIMEPULSE SE. The purchasing price per share is EUR 15.00 for a total of 8,587,138 shares, and the parties expect to complete the transaction by March 2024.
Kontron says that it expects the acquisition to significantly strengthen its portfolio of renewable “green” energy solutions and the aerospace segment.
The Katek Group is a major European electronics company offering high-quality electronics and products in the fields of solar energy and e-mobility. With more than 3,200 employees, Katek generated estimated revenue of more than EUR 750 million in the 2023 financial year and has locations in Europe, Asia, and North America. Control electronics for photovoltaic systems and the growing area of intelligent charging solutions for electric vehicles are an important part of the product range.
In a press release, Kontron says that the acquisition aims to expand the company's portfolio with smart solutions for renewable energies and other industries. To achieve this, Katek’s products are set to be upgraded with Kontron’s software expertise and IoT connectivity. This is expected to improve Katek’s gross margin by around 5% in the medium term. The aim is to bring Katek solutions into the IoT world as quickly as possible.
“With the acquisition of Katek SE, we are expanding our presence in the high-growth area of Clean Energy Solutions in a targeted manner and also strengthening the Aerospace division at Kontron with the Katek subsidiary NexTek. The clean energy sector holds considerable potential for the future. Upgrading with Kontron software will increase gross margins by around 5% in the medium term, thereby increasing profitability at Katek as well,” says Hannes Niederhauser, CEO of Kontron AG in the press release.
After completing the acquisition of the shares and gaining control over Katek SE, Kontron Acquisition GmbH intends to publish a mandatory offer to the shareholders of Katek SE. Kontron also intends to delist Katek after which the Management Board and Supervisory Board of Katek will step down. It is also planned that Dr Johannes Fues, currently a member of the Management Board of Katek SE, will join the Executive Board of Kontron as Chief Operating Officer (COO) with responsibility for GreenTec.
“The acquisition of Katek is a real gamechanger for Kontron. It takes us into a new dimension in every respect. With approx. 8,000 employees and cumulative estimated revenue of around EUR 1.9 billion, Kontron now has a new size in the market. Added to this is the expertise gained in the promising market of renewable energy,” Hannes Niederhauser concludes.