International law firm CMS has advised Swiss SIX listed company, Cicor Technologies Ltd (SWX: CICN), on the acquisition of STS Defence Limited, a UK-based technology and system integration company.
Cicor is one of Europe's fastest growing manufacturers of high-reliability electronics for medical, industrial and aerospace & defence applications. With STS Defence, Cicor has acquired an industry-leading provider of sustainment, support and modernization solutions for mission-critical electronics and communications systems in the aerospace & defence sector. By combining the strengths of Axis Electronics, which was acquired in 2021, and STS Defence, Cicor is ideally positioned to implement the most demanding customer programs for its predominantly British customers.
Peter Neumann, Cicor’s Group CFO added: “The CMS corporate team was a valuable and trusted advisor for us in this acquisition as in past acquisitions across Europe. The UK team led by Robbie was always available for every ad hoc request and guided us through the complicated process of negotiations and filings to a successful completion.”
Robbie Somerville, Of Counsel at CMS, commented: “Cicor is at a very exciting point with its growth plans, with market growth through acquisitions continuing to play an important role in its growth strategy. We are delighted to have acted for Cicor on this key acquisition. It has been a real team effort and this transaction has demonstrated the breadth of experience that we have across CMS UK when it comes to handling complex M&A transactions and aerospace and defence sector expertise. We wish Cicor well with the successful integration of the STS Defence business into the Cicor group, and we look forward to working with the fantastic team again.”
The CMS team was led by Robbie Somerville (Corporate) with Michael Flett (Corporate) playing a material role within the Corporate deal team. The wider CMS team on this transaction has involved a large number of colleagues and practice areas, including: Jack Letson (Corporate), Lindsay McAllister (Corporate), Zosia Zakrewska (Corporate), Alexandra Tuck (Tax), Yao Chua (Tax), Isobel Thomas (TMIC – Regulatory & Anti-Trust), Graeme Young (TMIC - Regulatory & Anti-Trust), Jean-Francois Willems (TMIC - Regulatory & Anti-trust), Lucy Muir (TMIC), Rachel Gillan (TMIC), Jasleen Kaur (Share Incentives), Catherine Merry (Share Incentives), Ewan Thomson (Real Estate), Fiona Henderson (Banking), Cameron Smyth-Milne (Banking), Ibinabo Osasona (Pensions), Rosalind Morgan (EPC), Joanna Waddell (EPC) and Laura Rankin (Employment).
