Ticker: ALICA), a global technology distributor of printed circuit boards ("PCB"), announced the purchase of 100% of the capital of FIMOR ELECTRONICS, a French maker of human-machine interface solutions and distributor of custom-made technical parts.
A wholly-owned subsidiary of the FIMOR group, FIMOR ELECTRONICS specialises in the trading of technical parts produced to order, which generates 80% of its revenue. The business also owns a factory that specialises in producing human-machine interface solutions, which is its second line of business and accounts for 20% of its annual income. 350 customers make up the company's clientele, most of them are in the telecommunications, high-tech, automotive, and medical industries. Additionally, FIMOR ELECTRONICS has a service office in Foshan, China, which is in charge of managing local commercial and technical relationships with roughly 10 suppliers. In 2021, FIMOR ELECTRONICS generated a net annual revenue of more than €6.2 million and an EBITDA of €0.6 million.
The purchase of FIMOR ELECTRONICS strengthens ICAPE Group's position in the market for "custom-made" electromechanical parts and expands the range of products offered by its subsidiary CIPEM thanks to its broad client base and premium positioning. The existing sales and supply chain synergies between ICAPE Group and FIMOR ELECTRONICS will be utilised to ICAPE Group's advantage in order to strengthen its growth on the technical parts market, which accounts for almost 20% of its current annual revenue. By building a new facility in Europe that will be dedicated to local production for high value-added industrial sectors, the Group is also moving forward with its industrial strategy.
Cyril CALVIGNAC, ICAPE Group’s CEO, stated: “FIMOR Electronics is a very promising company. The team developed a business model, a factory, and a reputation based on excellence and seriousness in France to achieve their objectives and secure a solid customer base. ICAPE Group is developing its production network after the acquisition of Trax in South Africa, and MMAB in Sweden, two printed circuit board factories. We are happy to welcome FIMOR Electronics today, into our network for technical parts and we are confident that this new acquisition will be a perfect addition to offer the highest quality of services to both FIMOR Electronics and ICAPE Group’s customers, and increase the footprint of our companies in France and the border countries. It’s also important for us to support and offer a local production solution.”
Manuel ZUCKERMAN, FIMOR ELECTRONICS’ CEO, added: “ICAPE Group is a major player in the electronic industry. Over the last 20 years, the company has become one of the largest electronic parts suppliers in the world. It’s a testimony of ICAPE Group’s capabilities. I am sure that FIMOR Electronics and its customers will benefit from this international presence. CIPEM professionals will bring added expertise, a larger product portfolio, and the energy of a highly motivated team. FIMOR Electronics associates are very enthusiastic about joining ICAPE Group and looking forward to unleashing their potential.”
As of January 1st, 2023, the new purchase will be accounted for as part of the ICAPE Group and will be fully financed in cash. The facility will develop under the IHM brand, and FIMOR Electronics' trade operations will eventually merge with CIPEM France.
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