Frankfurt/Main – The Cicor Group (SIX Swiss Exchange: CICN), which is headquartered in Bronschhofen, Switzerland, has acquired the German and Tunisian electronic manufacturing services (EMS) business of Switzerland-listed Phoenix Mecano Group. This represents a further step in expanding Cicor’s European business around sophisticated electronic components. Cicor is a manufacturer of highly complex printed circuit boards and hybrid circuits. It also provides complete outsourcing solutions for electronic assemblies, plastic injection moulding and printed electronics. The acquisition will enable Cicor to further strengthen its EMS business in Germany, especially in medical technology – a key market for the company. The goal is to become an even bigger player in Europe’s largest market for high-end electronics. The transaction is currently awaiting regulatory approval.
A CMS team headed by lead partner Dr Hendrik Hirsch advised the Cicor Group on all legal aspects of the acquisition, providing both transactional advice and assistance in obtaining approval from the competition authorities and clearance under the Foreign Trade and Payments Act (Aussenwirtschaftsgesetz, AWG). Cicor instructed CMS for the first time at the start of this year when it acquired Dresden-based SMT Elektronik GmbH. The company has now again relied on CMS’s expertise for this transaction.
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