Amsterdam – Corporate Finance International (‘CFI’) is pleased to announce that it acted as the exclusive corporate finance advisor to Rademaker Holding and other shareholders of Solid Semecs B.V. (‘Solid Semecs’) in the successful sale to SERO GmbH (‘Sero’), a portfolio company of Deutsche Beteiligungs AG (‘DBAG’).
Solid Semecs is an independent, Dutch, high-end Electronic Manufacturing Services (EMS) company that provides exceptional PCBAs to industrial, automotive and healthcare customers. The company has over 35 years of experience in industrial PCB assembly, and offers a complete range of services throughout the entire process chain. Solid Semecs provides European coverage for its clients through its headquarters in the Netherlands, production plant in Slovakia and sales offices in Germany and Denmark. Solid Semecs realises an annual turnover of approximately € 70 million with around 460 employees.
SERO is an EMS service provider with its production location based in Germany. The company is characterised by its innovative inspection and testing procedures and its high level of automation and quality. SERO specialises in high volume orders and pursues a strategy of healthy growth. In addition to the automotive industry, which currently accounts for 85 % of the company’s turnover, the focus is deliberately directed towards the industrial segment.
Through the targeted acquisition of Solid Semecs, additional production capacities, a strengthening of the market position through higher purchasing volumes and new skills were gained. “Solid Semecs specialises in medium-volume and manual activities and, in addition to IATF 16949, is also certified for manufacturing, including processes like coating, potting, gluing and box building, of medical devices (ISO 13485). We are thus supplementing the SERO portfolio with a range of services tailored to industrial and medical customers”, explains Jan-Frederik Kalee, who will be part of the new management.
Mr Bernd Welzel, CEO of SERO, emphasises the strategic importance of this acquisition: “We are pleased to have taken over a recognised and reliable EMS partner in the competent team of Solid Semecs. We will build one of Europe’s leading and competitive EMS service providers under a new, joint umbrella brand that will delight both our company’s regular customers in the automotive, industrial and medical sectors as well as new customers. Together we offer production services that will result from the combination of the core competencies of both companies. With this step we are putting our planned international expansion and growth strategy on a successful path.”
The combination of the two EMS specialists ensures a strong and competitive presence in Europe with a turnover of more than € 150 million and a wide range of manufacturing services across various market segments. Solid Semecs’ customer base, weighted complementarily to SERO, results in an overall balanced customer portfolio in the course of the acquisition. The purchase is currently subject to the approval of the antitrust authorities.
CFI orchestrated discussions and negotiations in a process, which ultimately resulted in a successful sale to SERO, that was signed on 30 April 2021. This transaction further emphasises CFI’s dedication to and expertise in the Industrials sector.
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