ebm-papst, the world market and technology leader in fans and motors, has sold a majority stake in its IKOR group, a Spanish electronics specialist, with subsidiaries in Spain, Mexico and China to Belgian Connect Group under a German law governed share purchase and transfer agreement. The transaction is subject to customary closing conditions. Taylor Wessing, led by Munich-based partner Philip Cavaillès, advised ebm-papst on the transaction.
The IKOR group consists of the Spanish parent company IKOR Sistemas Electrónicos S.L and its subsidiaries IKOR Technology Center S.L, IKOR Corporate S.L (both Spain), Chinakor Electronic Systems (Suzhou) Co. Ltd. (China) and Mexikor S.A. DE C.V. (Mexico). IKOR group is a global company committed to innovation that provides a total service for the design and manufacture of electronic circuits (EMS), including complete supply chain solutions for world-leading industrial and technological companies. IKOR group recently achieved a turnover of EUR 67.5 million with 700 employees. ebm-papst achieved sales in FY 19/20 of just under EUR 2.2 billion with almost 15,000 employees at 29 production sites.
Connect Group N.V. with its seat in Kampenhout, Belgium is part of the Motor & Generator Manufacturing Industry and specializes in electronic subcontracting services. The group supplies production of cables and cable harnesses, assembly and testing of printed circuits, manufacturing of semi-finished products and assembly of finished products.