EQS-News: KATEK SE
/ Key word(s): Capital Increase/Takeover
KATEK signs purchase agreement for 100% takeover of American Nextek and decides on capital increase
KATEK and the shareholders of Nextek, a US-based supplier of high-tech and high-value electronics, have signed a Share Purchase Agreement to acquire all shares in Nextek. KATEK thus expands its presence in North America with a site in Alabama, USA. At the same time, KATEK announces a capital increase in order to take advantage of the current growth opportunities.
Munich, November 29th, 2022 - KATEK SE has concluded a purchase agreement with the owners of Nextek Inc. in Madison, USA, to acquire all shares in the US company. The purchase agreement includes the acquisition of 100% of the shares in Nextek. This is already the second transaction in North America this year; the acquisition of the Canadian SigmaPoint Technologies Inc. took place only in August 2022. The transaction is subject to the necessary regulatory approvals and closing is expected in the first quarter of 2023 at the latest.
The acquisition not only expands KATEK's site presence in North America, but also strengthens its access in the fast-growing Homeland Security & Defense, Medical, Energy, Highend Industrial and Aerospace sectors, which are new to KATEK. Nextek generated profitable annual sales of $37 million last fiscal year with approximately 170 employees. Nextek is successful in the field of highly complex products for critical applications with a focus on prototyping and small to medium volume production.
Rainer Koppitz, CEO & Co-Founder of KATEK: "This new member of the KATEK family ideally complements the acquisition of Canadian SigmaPoint, which was completed only in August, as a high-volume supplier of complex electronics. Both companies benefit from the strong reshoring trend in North America, which is currently massively accelerated by the current economic and geopolitical tensions."
In addition to quick turn prototyping, Nextek offers sophisticated electronic assembly manufacturing, complete device manufacturing (box built) as well as analytical engineering, product engineering and comprehensive test services for well-known customers in the high-tech sector.
Nextek underlines its commitment to the highest quality standards, in addition to the usual ISO 9001, with certifications in the fields of aerospace (AS 9100D), medical technology (ISO 13485) and military technology (ITAR). The company has unique laboratory capabilities for testing materials and ensuring the quality required in critical applications. As a result, Nextek is ideally positioned to benefit from growth trends in the industries it serves.
Both parties anticipate that the realization of significant existing synergies, particularly in the areas of sales and supply chain, will further enhance the company's already strong profitability. John Roberts, Nextek's long-time CEO with excellent industry knowledge, will continue to run the site unchanged with his dedicated management team.
The KATEK management also decided on November 25 to increase the company's capital in order to take advantage of the exceptional growth opportunities in the current market situation. Specifically, in the inorganic area, the current strong market share gains in the areas of solar/renewables (YTD sales plus 132%) and tele-care (plus 170%) are to be continued, as well as the ramp-up of the technologically leading AC white label charging solution ghost ONE of the KATEK subsidiary eSystems is to be fueled. "In addition," says Dr. Johannes Fues, CFO of KATEK SE, "KATEK sees good opportunities next year for further value-enhancing company acquisitions as part of its successful acquisition strategy, including to expand its geographic presence in North America and Scandinavia."
For this reason, the Management Board of KATEK SE has decided to make partial use of the existing authorized capital 2021/I and to increase the Company's share capital of EUR 13,241,880.00 by up to EUR 1,203,807.00 to up to EUR 14,445,687.00 by issuing up to 1,203,807 new no-par value bearer shares with a notional interest in the share capital of EUR 1.00 per share against cash contributions.
Only Hauck Aufhäuser Lampe Privatbank AG, Frankfurt am Main, was authorized to subscribe to and acquire the new shares, with the obligation to offer them for subscription to the Company's shareholders by way of indirect subscription rights. Within the subscription period, shareholders may subscribe to the new shares at a ratio of 11:1 at a subscription price of EUR 16.15. The subscription offer is being made free of prospectus charges. The subscription offer will be made without a prospectus. Hauck Aufhäuser Investment Banking is acting as sole bookrunner in the transaction.
It is intended that the principal shareholder PRIMEPULSE SE waives all of its subscription rights so that this principal shareholder tranche can be offered to qualified investors after the end of the subscription period. In addition, new shares not subscribed by shareholders within the subscription period under the subscription right shall be offered to qualified investors at least at the subscription price within the framework of a rump placement together with the principal shareholder tranche. It is further intended that the principal shareholder undertakes to subscribe for new shares under the rump placement to the extent that other qualified investors have not subscribed for new shares.
KATEK Group, headquartered in Munich, is one of the fastest growing electronics companies in Europe and aims to make a decisive contribution to the "electronification of the world". KATEK is an end-to-end service provider for high-value electronics. The range of services covers the entire product life cycle. From the development of software and hardware, through rapid prototyping of electronic assemblies and production, to subsequent support of the process at the customer's premises, including logistics, after-sales and service activities.
3,100 employees at locations in Germany, Eastern Europe, North America and Asia produce the megatrends of the future. With its local-to-local approach, KATEK ensures proximity to the customer and at the same time paves the way to the global market. Market leaders from the fastest-growing industries - from electromobility to renewable energies to medical technology - rely on this strategy.
CEO & Co-Founder is Rainer Koppitz and CFO is Dr. Johannes Fues. For more information about KATEK, please visit https://katek-group.com.
Statements contained herein may constitute ”forward-looking statements“. Forward-looking statements are identified by words such as ”may“, ”will“, ”should“, ”plans“, ”expects“, ”anticipates“, ”estimates“, ”believes“, ”intends“, ”has in mind“, ”targets“ or their negative form or equivalent variations and comparable terminology.
Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, levels of utilization, performance or achievements of the Group or the industries in which it operates to be materially different from those expressed or implied by such statements. Undue reliance should not be placed on forward-looking statements. The Group will not update or revise any forward-looking statements contained herein as a result of new information, future events or otherwise.
29.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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|EQS News ID:||1499729|
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1499729 29.11.2022 CET/CEST