Leesys acquisition continues KATEK SE's growth strategy
KATEK SE, the second largest German electronics service provider has acquired the Leipzig-based Leesys Group.
Leesys was in self-administration, which under German insolvency laws allows a company to restructure under its own management, following loss of business from two major customers.
The deal is expected to be finalised early next year, subject to anti-trust approval, employee approval of the transfer and the negotiation of an in-house collective bargaining agreement that will keep the Leipzig operation competitive in the long term.
The Munich-based electronics service provider is thus continuing on its growth path.
The acquisition means KATEK takes over the Leipzig electronics site with just under 250 employees, as well as all obligations arising from ongoing business operations with customers and suppliers.
The deal also includes the Leesys site in Lithuania, as well as the TeleAlarm Group with locations in Switzerland, the Netherlands and Germany.
This company supplies hardware and software solutions that help elderly people and people with physical disabilities to lead a self-determined life in their familiar surroundings.
Rainer Koppitz (pictured), CEO of the KATEK Group: "Leesys, the future KATEK Leipzig, with its subsidiary TeleAlarm, will become another independently managed speedboat of the KATEK fleet. We are pleased that we were able to convince the long-standing managing director Dr. Arnd Karden to continue his consistent course of economically sustainable positioning in the future as part of the KATEK family."
The acquisition continues KATEK's strategy of further growth in its core area of electronics services, while at the same time building up new competencies in the high-potential, sophisticated area of high-value electronics, most notably TeleAlarm with its successful solutions in the health care market.
KATEK SE Group is one of the leading electronics service providers in Europe. With its 2,400 employees at locations in Germany and Eastern Europe, the Group generates sales revenues of around 400 million euros. Its range of services covers the entire life cycle of electronic assemblies and devices, from development to materials and project management, electronics manufacturing, box building, test engineering, logistics and after-sales service. KATEK thus serves a production volume ranging from prototypes and small series to large series for all industries.
KATEK forms the Electronics division of PRIMEPULSE, a technology-oriented investment holding based in Munich