goetzpartners advised exceet Group on the sale of AEMtec GmbH to capiton V GmbH & CO. KG in the Commercial Vendor Due Diligence

Deal Announcement

exceet Group AG, a company of the exceet Group, signed a contract with Mellifera Neunundzwanzigste Beteiligungs-gesellschaft mbH to sell its subsidiary AEMtec GmbH. The micro- and optoelectronics business AEMtec GmbH, headquartered in Berlin, is part of exceet's business segment "Electronic Components, Modules & Systems (ECMS)". The buyer is controlled by capiton V GmbH & Co. KG, a fund of the private equity firm capiton.

goetzpartners advised exceet Group in the Commercial Vendor Due Diligence of AEMtec GmbH, a leading European player in the customized advanced packaging market for micro- and optoelectronics. Electronic packaging encompasses encapsulation of tiny blocks of semiconductor material into support cases to protect against physical damage and corrosion while securing full functionality. AEMtec GmbH is positioned in the very high-end spectrum of this market, which is characterized by low volumes and very high complexity.

AEMtec GmbH covers all relevant state-of-the-art technologies including wafer back-end, flip chip and die/wire bonding. The company is able to strongly customize the production process in order to fulfill customers’ highly sophisticated requirements such as extremely small size, performance within a broad temperature range, very high placement accuracy as well as complex machine setup. In 2017A, AEMtec GmbH generated sales of € 46.5m and EBITDA of € 8.0m (margin ~17%).

By taking this step, exceet continues to focus consequently on optimizing the value of its activities. Key elements of its strategy are the further development and strengthening of the remaining electronic activities - inter alia in the extension of the Printed Circuit Boards (PCB) production of GS Swiss PCB AG - and new acquisitions.

goetzpartners Management Consultants acted as exclusive commercial advisor to exceet Group, further underlining our competence in the high-tech industry. The completion of the transaction is subject to clearance by the appropriate cartel authorities. The agreed purchase price amounts to approx. EUR 86.0 million and will increase exceet's net cash position (available cash less interest bearing liabilities) after transaction costs to about EUR 105.0 million after completion of the transaction.

ABOUT EXCEET GROUP 

exceet is focusing on technology corporations within the healthcare and electronics markets. The company is listed on the Frankfurt Stock Exchange since July 27th, 2011.

 

GOETZPARTNERS TRANSACTION TEAM

Dr. Gerrit Schütte
Partner
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Alexander Zauter
Consultant

Steffen Prochazka
Consultant

Janine Schäfer
Associate Consultant

Lena May
Associate Consultant