Crowe advises Cicor on the acquisition of Profectus GmbH

The listed Cicor Group (SIX Swiss Exchange: CICN) has signed an agreement to acquire the German EMS service provider Profectus GmbH. With this acquisition, the Cicor Group is expanding its market position in Germany, the largest electronics market in Europe.

Profectus GmbH, based in Suhl (Thuringia, Germany), is a service provider for the development and production of electronic assemblies and systems. Its long-standing customers include medium-sized companies and leading corporations, primarily from the industrial electronics and medical technology sectors. Profectus GmbH employs around 90 people and generated sales of around EUR 25 million in the past financial year as of September 30, 2024 with an operating margin at the level of the Cicor Group. The transaction is subject to customary regulatory and other closing conditions and is expected to be completed in early 2025.

The owners of Profectus saw the future prospects and growth opportunities for their company within the Cicor Group as ideal and will continue to follow this path. Cicor will continue to operate the Suhl site unchanged and with the existing staff. Cicor will rely on the experience and knowledge of all employees to achieve its strategic goal of becoming the leading pan-European provider of development and manufacturing services.

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 and the commercial contract negotiations, consisted of Andreas Hoffmann, auditor and partner (overall lead), Alexander Schneider, manager (financial) and Philipp Jans, associate (financial). The tax structuring of the transaction was carried out by Crowe BPG through Dr. Philipp Kruse, tax advisor and managing director. The tax due diligence was carried out by Crowe Kleeberg GmbH (Crowe Kleeberg). The tax team consisted of Dr. Lars Lüdemann, tax advisor and partner, Dr. Sebastian Sieber, tax advisor and senior manager and Arzum Esterhammer, tax advisor and manager.
 

Source: Deal Advisors by Majunke