Schleuniger acquires stake in German wiring test system player
Transaction involves 60% ownership of adaptronic Prüftechnik GmbH
Schleuniger Group, has signed an agreement to acquire 60% of adaptronic Prüftechnik GmbH, based in Wertheim, Germany. The transaction is expected to be concluded at the beginning of 2018. A leader in wiring test systems and function test systems, adaptronic employs around 140 people and generated sales of about EUR 14 million in 2016. By acquiring adaptronic, Schleuniger is adding customized solutions for testing cable harnesses, connectors and assemblies for the aviation, astronautics, railway technology, automotive, automation technology and industrial sectors to its existing service range.
adaptronic develops and produces application-specific test systems and adapter solutions for wire harnesses, which it supplies to customers in a wide range of markets. Its product portfolio comprises wiring test systems, adapters, test tables and test consoles for high- and low-voltage applications, all backed up by the software solutions providing efficient and effective testing. adaptronic generates a significant portion of its sales through customer-specific application engineering and the maintenance of the test systems it supplies.
The remaining 40% will remain primarily in the hands of adaptronic’s founder
Following the transaction, the remaining 40% will remain primarily in the hands of adaptronic’s founder and current principal owner Peter Müller, and to a smaller portion in the hands of the current minority shareholder Stefan Friedrich.
“adaptronic’s alliance with the Schleuniger Group will enable us to benefit from the global sales footprint we need to drive forward our internationalization plans”, Peter Müller commented, who will be remaining in his current post of CEO. “This is particularly interesting in view of our leader-ship in the high-voltage sector, which is set to become significantly more important in the light of the global trend toward e-mobility.”
Christoph Schüpbach, CEO of the Schleuniger Group, had this to say about the transaction: “As part of our Strategy 2025, we are actively looking for external growth opportunities and to consolidate our business by means of targeted M&A transactions. This applies particularly to our ‘best in test’ approach. adaptronic is a perfect fit for Schleuniger Test Automation GmbH’s product range and will enable us to strengthen our offering in a variety of customer value chains, particularly with regard to the megatrend toward e-mobility.”