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European based EMS company Connect Group has entered into an agreement to acquire IKOR, a company that designs and manufactures electronic circuits (EMS) for technology companies in Spain, Mexico and China. With the acquisition of IKOR, the Connect Group will significantly expand its portfolio and geographical reach, extending its global presence across Europe, the Americas and Asia.
“This deal is an important milestone for Connect Group,” explains CEO Jeroen Tuik, “as we can now focus even more effectively on serving, world-wide customers, and offering them the benefits of a 'glocal' – a global and local – presence they can count on. Our success to date has been based on anticipating and fulfilling the needs of our customers and providing them with solutions that enable them to be successful. I am confident that synergies between Connect Group and IKOR will create a win-win for our company, our customers, and all stakeholders.”
Connect Group and IKOR share a deep commitment to enabling the success of their customers by converting the customer’s products into a technological and commercial success. The customers of both companies will benefit from the expanded global presence, wider integrated knowledge across products, services and sectors, as well as the company’s increased volume purchasing power.
Marco Duarte, CEO at IKOR outlined that “We are very excited about the prospect of working with Connect Group to better serve our customers with a broader geographical spread and new, complimentary services. Importantly, the acquisition allows us to capture sales opportunities across both customer bases for both companies. For us, the deal ultimately means a stronger position as a brand and for our it means that we can widening the final offer.”
“As part of our strategic alignment we will focus more intensively on our core business in the field of fans and motors in the future”, explains Stefan Brandl, CEO at ebm-papst group. “With the transaction of IKOR to the Connect Group, a successful electronics manufacturing specialist, we strengthen IKOR and enable further synergies. IKOR will remain a very important supplier for us, especially in China.”
Following the closing of the transaction, IKOR will be part of the Connect Group, with ebm-papst, the current owners, which retains a minority stake in IKOR shares.