Incap acquires German Lacon Group

Finnish EMS provider Incap Corporation has agreed to fully acquire Germany-based Lacon Group for a minimum of €50 million, securing 100% ownership. The acquisition strengthens Incap's presence in the defense market, adds design and development capabilities, and unlocks growth potential in Europe's largest EMS market, Germany. Lacon, founded in 1985, operates sites in Germany and Romania, employs 603 people, and generated unaudited pro-forma revenue of €57.2 million from January to October 2025. The deal, expected to close in Q1 2026 subject to regulatory approvals, includes a potential earn-out of up to €5 million in 2027