IEE Acquires All Circuits
MEUNG-SUR-LOIRE, FRANCE -- ALL Circuits, a top 50 EMS company and the second-largest in France, will be acquired by a Luxembourg-based manufacturer of automotive sensors.
Terms were not immediately disclosed.
IEE S.A. will lead a group of investors in the acquisition of All Circuits, which includes MSL Circuits, BMS Circuits, and TIS Circuits, from AIAC.
Partnering with IEE on the deal are HiWingLux, a subsidiary of its majority shareholder; Navilight, a partner of HiWingLux; and ALL Circuits management.
Each company's management will remain unchanged, the firms said in a press release.
Bruno Racault, CEO of ALL Circuits, says the partnership with the new shareholder is a wonderful opportunity to continue the company´s growth: “ALL Circuits will benefit from IEE´s design capabilities, as we will now be able to offer this expertise to our customers,” he says. “We will also be closer to the German market and, with IEE´s support, will have the opportunity to expand our footprint beyond Europe.
IEE president and CEO Michel Witte said the acquisition is a positive step for both companies. “ALL Circuits has made a name for itself in the global market as a leading provider of electronics manufacturing services and is ranked seventh in the top 10 European EMS companies.” “This makes them a good strategic fit with IEE. With ALL Circuits on board, IEE will be well positioned to develop our expertise in the automotive safety electronic production process and will have direct access to electronic manufacturing excellence. This acquisition will also enable us to enlarge our product portfolio, particularly in the non-automotive market, and offer enhanced products, functions and services to our customers worldwide.”
ALL Circuits specializes in EMS for automotive, telecommunications, medical, and industrial. The company consists of MSL in Meung-Sur-Loire, France; BMS in Bayonne, France; and TIS in Tunisia, and has 1,500 employees and sales of more than EUR270 million in 2014.
IEE had sales of EUR170 million in 2014.
