Mersen acquires the remaining capital of Cirprotec
Mersen acquires the remaining capital of Cirprotec to accelerate its development in power quality products and solutions
Paris, April 5, 2018 – Mersen (Euronext FR0000039620 – MRN), a global expert in electrical power and advanced materials, has acquired the remaining capital of Cirprotec, based in Terrassa, Spain, following acquisition of a majority stake in February 2014.
The combination of complementary cutting edge range of overvoltage and overcurrent protection products with Mersen’s international sales network has led to a strong increase in sales in power quality products and solutions over the past four years.
The operation will allow Mersen to accelerate the development of this product line in high-potential markets such as LED lighting, solar power and EV charging, as well as in growth countries, notably in Asia. It is also expected to strengthen its positioning with industrial panel builders.
The operation will be immediately accretive to basic earnings per share. It will increase Group net debt by approximately €10 million, including the estimated potential earn-out.
Global expert in electrical power and advanced materials, Mersen designs innovative solutions to address its clients' specific needs to enable them to optimize their manufacturing performance in sectors such as energy, electronics, transportation, chemicals & pharmaceuticals and process industries.
Mersen, with its 6,400 employees working across 35 countries, recorded sales of €809 million in 2017.
Mersen is listed on Euronext Paris – Compartment B
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