AEMtec, a service provider to the electronic manufacturing process, has created a £40.5 million turnover business with more than 300 employees after buying two Swiss companies.
AEMtec, a service provider to the electronic manufacturing process, has created a £40.5 million turnover business with more than 300 employees after buying two Swiss companies.
The Berlin-based company has bought majority shares in electronics manufacturing service business ECR as well as flex and HDI printed circuit boards production specialist GS Präzisions.
The values of the transactions have not been disclosed but both were funded by AEMtec’s US-based shareholder Ventizz Capital LLP, which provided finance through its Fund III.
AEMtec’s managing director, Harald Hanne, said the group is expanding to meet demand. He believes the market wants a European turnkey provider to solve the highly complex challenges of making modern electronics products.
“With their complementary unique selling points, the new companies in our portfolio are the basis for the fulfilment of this customer demand and we see very good potential for successful growth in Europe and in the markets beyond Europe,” he added.
Ventizz funded these deals as part of its strategy of backing high-tech companies with exceptional opportunities for growth. The firm intends to provide further investments to continue the company’s growth.
The funder’s lead counsel was Franz Legal, led by Matthias Schmidt and Christian Franz, which managed the negotiations on its behalf.
The firm also received legal advice on its investment from Thomas Brauchli and Hans Hofstetter at Schoch Auer in Switzerland and Velten Franz Jakoby in Düsseldorf.
Franz Legal was Ventizz’s counsel when it bought AEMtec from Infineon and its other vendors in February last year. That deal was one of several the firm has advised Ventizz on.
“Steered by Willi Mannheims, the acquisition team managed to make the winning bid in an auction sale organised by Zürcher Kantonalbank on behalf of the vendor, and to successfully close the deal.”
Munich-based corporate financing specialist FCF Fox Corporate Finance served as exclusive financial adviser to AEMtec.
FCF’s transaction team, led by director Daniel Saxena, worked closely with AEMtec’s management team and the partners at Ventizz throughout an auction process managing the preparatory, bidding, due diligence and negotiation phases.
In parallel to the acquisition process, FCF arranged a domestic senior credit facility for the acquisition and assisted AEMtec with the negotiations of the credit agreements and related financing documents. “Securing an attractive financing proposal in a short period of time, allowed us to strengthen our bid, an important factor for winning the auction” Saxena said.
FCF’s has established itself as a trusted corporate finance partner for private equity houses in the DACH region, due to its unique combination of financing and M&A expertise for small- / mid-cap transactions.
ECR is based in Rotkreuz, Switzerland, and was founded in 1994. It is a supplier in the production of electrical components for industrial and medical technology.
GS Präzisions in Küssnacht am Rigi was established in 1981 as a manufacturer of flexible and rigid-flexible as well as HDI printed circuit boards.
