Cicor strengthens its market position in Germany via acquisition
EMS provider Cicor continues its expansion spree with yet another acquisition, this time the company is looking to strengthen its market position in Germany.
Cicor Group has signed an agreement to acquire German EMS service provider Profectus GmbH. The transaction follows a string of acquisitions earlier this year in the United Kingdom, Romania, and Sweden.
Profectus GmbH, situated in Suhl, Thuringia, Germany, is a service provider that develops and manufactures electronic modules and systems. Its customers include medium-sized companies and major organisations, mostly in the industrial electronics and medical technology industries. Profectus GmbH employs around 90 people and generated sales of around EUR 25 million in the last financial year ending 30 September 2024, with an operating margin at the level of the Cicor Group.
The owners of Profectus believe that their company's future perspectives and growth potential within the Cicor Group are excellent, and they will continue to support this path. Cicor will continue to operate the Suhl site with the same crew.
The transaction is subject to the usual regulatory and other closing conditions and is expected to be completed in early 2025.
