NEW YORK -- One Equity Partners today announced it has completed the acquisition of a 29% stake in Cicor Technologies, a Swiss provider of electronics manufacturing services, to become the company's largest shareholder.
"Cicor is a premier European EMS company that is well-positioned to pursue new opportunities in a highly competitive market, where its strong engineering and design capabilities differentiate it from others in this space," said Chip Schorr, senior managing director, OEP, a private equity firm.
Boudry, Switzerland-based Cicor was founded in 1966 and has over 2,000 employees across 10 production sites globally.
OEP said Spartronics, which it acquired last year, will remain separate of Cicor.
"We're excited to welcome One Equity Partners as a major shareholder in Cicor. They have deep expertise within the EMS sector and they share our growth vision for the business," said Alexander Hagemann, chief executive, Cicor. "OEP's investment in Cicor will enable us to make the most of our robust pipeline of new business and evaluate potential strategic acquisition opportunities within the European EMS market."
As part of the transaction, OEP senior managing director Norma Corio and Ryzhkov have joined the Cicor board.