DRESDEN GERMANY – Cicor Group completed its acquisition of SMT Elektronik, according to reports.

The transaction will be financed by existing credit facilities and funds from a mandatory convertible bond issued in January.

SMT Elektronik is integrating approximately 130 employees here, expanding its electronic manufacturing services business in Germany. The merged firms will operate as Cicor Deutschland, effective immediately.

SMT Elektronik’s customer base is related to Cicor's target markets of medical and industrial technology. The company generated sales of some €20 million in 2021.

As part of the deal, Cicor also acquired SMT’s data logger business, including Monilog products.

No financial terms of the agreement were disclosed.

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