BRONSCHHOFEN, SWITZERLAND – Cicor Group acquired 100% of the shares of Axis Electronics for an undisclosed sum.

With this acquisition, Cicor expands its European footprint into the UK. Cicor plans to integrate Axis into the global engineering and manufacturing network of the Electronic Solutions division.

Axis is a UK-based electronics manufacturer, focusing on the aerospace and defense sectors. Cicor will reportedly become a top-five EMS provider in aerospace and defense in Europe and will continue operations in Bedford, UK, retaining all 180 employees there.

The acquisition is expected to increase Cicor’s sales approximately 15% on an annualized basis.

The closing of the transaction is expected in 2021 and is subject to customary closing conditions.