LACROIX : Closing of the FIRSTRONIC acquisition.
January 10 2022 - 12:08PM
LACROIX : Closing of the FIRSTRONIC acquisition.
10/01/2022
Closing of the
FIRSTRONIC acquisition
LACROIX announces the closing of the acquisition
of a majority stake in FIRSTRONIC in the US. This follows the
announcement of the signing of an exclusive agreement dated
December 16, 20211.
With the completion of the announced
transaction, LACROIX is already well on track with its new
strategic plan LEADERSHIP 2025, international development being one
of its foundation, notably in the United States and Germany.
As a reminder, FIRSTRONIC is an EMS (Electronics
Manufacturing Services) serving very large customers, mainly in the
automotive, industrial and health sectors, in North America. The
company has two production sites in Michigan,USA and Mexico, with a
team of nearly 1,300 people. Driven by strong growth, the company
anticipates 2021 revenue of nearly $140 million and EBITDA over
9%.
Through this historic acquisition, LACROIX
intends to create a multi-continental leader in electronic
equipment and industrial IoT solutions and benefit from significant
industrial and commercial synergies.
LACROIX now holds 62% of the capital of
FIRSTRONIC, a takeover accompanied by co-investment by the
Bpifrance International Build-up Fund, which holds 26% of the
capital.
In accordance with current accounting standards,
LACROIX's new American subsidiary will be consolidated in the
accounts as of December 31, 2021.
LACROIX will announce its revenue and margin
targets for the 2022 financial year at the time of the next
publication of the 2021 annual results, on 23 March 2022.
In addition, the Group intends to continue with
its roadmap with, including new international acquisitions, for its
Environment and City activities, while maintaining debt under
control.
Upcoming events4th quarter and
2021 full-year revenue: 14 February 2022 after market close
Find financial information in our
Investors’ Zonehttps://www.lacroix-group.com/investors
1 See Press Release of December 16, 2021
About LACROIX
Convinced that technology should contribute to
making our living environments simpler, more sustainable and safer,
LACROIX supports its customers in the construction and management
of intelligent living ecosystems, thanks to connected equipment and
technologies.
As a publicly-listed family-owned mid-cap, with
a turnover of €441 million in 2020, LACROIX combines the essential
agility required to innovate in an ever-changing technological
sector with the ability to industrialise robust and secure
equipment, cutting-edge know-how in industrial IoT solutions and
electronic equipment for critical applications and the long-term
vision to invest and build for the future.
LACROIX designs and manufactures its customers’
electronic equipment, in particular in the automotive, home
automation, aeronautical, industrial and health sectors. LACROIX
also provides safe, connected equipment for the management of
critical infrastructures such as smart roads (street lighting,
traffic signs, traffic management, V2X) and the management and
operation of water and energy systems.Drawing on its extensive
experience and expertise, the Group works with its customers and
partners to build the connection between the world of today and the
world of tomorrow. It helps them to create the industry of the
future and to make the most of the opportunities for innovation
that surround them, supplying them with the equipment for a smarter
world.
Contacts LACROIX COO &
Executive VP Finance Nicolas Bedouin
info@lacroix-group.com Tel.:
02 72 25 68 80 |
ACTIFIN Press Relations Jennifer
Jullia jjullia@actifin.fr Tel.:
01 56 88 11 19 |
ACTIFIN Financial Communication Simon
Derbanne sderbanne@actifin.fr Tel.:
01 56 88 11 14 |
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