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Crowe advises Cicor on the acquisition of Nordic Engineering Partner AB

Advisory

The private equity financed and listed Cicor Group (SIX Swiss Exchange: CICN) has acquired the Swedish engineering company Nordic Engineering Partner AB (NEP). With this acquisition, the Cicor Group is establishing a significant presence in the Nordic countries.

NEP has four development offices in the Stockholm region (Sweden) and offers customer-specific development services and prototype production for complex electronic systems. The company has an attractive customer base in Cicor's target markets and, in combination with Cicor's existing customers, represents a strong platform for further growth. Sweden is a leading European market for sophisticated electronics in medical technology, industry, aerospace and defense. NEP employs 45 people and generated sales of SEK 52 million in the last financial year ending June 30, 2024. NEP's shareholders and management will continue to be part of the team and support the further development in line with Cicor's growth strategy. 

The integration of NEP is another important step in Cicor's transformation towards becoming the leading pan-European partner for electronics development and manufacturing in Cicor's chosen markets by 2028. 

BPG Beratungs- und Prüfungsgesellschaft mbH (Crowe BPG) advised the Cicor Group on the transaction. The Crowe BPG team (crowe-bpg.de), which was responsible for the financial due diligence, consisted of Andreas Hoffmann (auditor and managing director (overall management)), Holger Redle (senior associate, financial) and Philipp Jans (associate, financial). Tax advice on the transaction was provided by Crowe BPG through Dr. Philipp Kruse (tax advisor and managing director).
 

Source: Deal Advisors by Majunke

Authors

Andreas Hoffmann
Andreas Hoffmann
Dr. oec. Philipp Kruse
Dr. Philipp Kruse

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