Deloitte Corporate Finance Advisory (“Deloitte”) acted as exclusive financial advisor to JENOPTIK AG (“JENOPTIK”) on the acquisition of TRIOPTICS GmbH (“TRIOPTICS”), a leading international supplier of test equipment and manufacturing systems for optical components and sensors in the digital world.
About the transaction
The Deloitte team in Frankfurt/ Main, led by Alexander C. Bielig together with David Schaibasjan and Jan Morawietz, has successfully advised JENOPTIK on the acquisition of TRIOPTICS. The acquisition included TRIOPTICS’s majority participations in subsidiaries located across the globe, including China, Germany, Japan, Singapore, South Korea, Taiwan and the U.S. The transaction is subject to approval by antitrust authorities.
This transaction marks the second significant M&A lead advisory success within the German metrology market by the Corporate Finance Advisory Team after having acted as lead M&A advisor to Carl Zeiss on the acquisition of GOM in 2019, thereby further expanding our in-depth knowledge of the German metrology market as a whole.
TRIOPTICS is a leading international supplier of test equipment and manufacturing systems for optical components and sensors in the digital world. The company, based in Wedel near Hamburg, has over 400 employees worldwide – of which around 100 in research and development –, and in 2019 generated revenue of around 80 million euros, with an operating margin before depreciation of around 27 percent. Over the last four years, the company achieved a compounded annual growth rate of 17 percent. Since its founding in 1991, TRIOPTICS has developed proprietary technology for global customers in attractive growth markets.
Stefan Traeger, JENOPTIK President & CEO stated: “The acquisition of TRIOPTICS is a major step in JENOPTIK’s strategic development and in the process of focusing on optics and photonics. We are accelerating our profitable growth, thus placing our business on a broader and more international footing. This transaction will allow us to offer our customers a more comprehensive range of products and services for applications in the digital world. This will enable us to tap additional potential for growth in the areas of mobile data acquisition and transmission, as well as in innovative human-machine interfaces in the automotive and industrial markets, among others. The transaction also makes us less dependent on individual business cycles and customers.”
Deloitte’s support for JENOPTIK provided a significant contribution to a smooth, efficient and successful transaction. In addition, Deloitte demonstrated its capabilities as a cross-functional organization with Deloitte Corporate Finance Advisory working together seamlessly alongside several additional Deloitte work streams to provide the client with an integrated service package from a single source.
About the client
JENOPTIK is a globally operating technology group, which is active in the three photonics-based divisions Light & Optics, Light & Production and Light & Safety as well as with VINCORION for mechatronics solutions. Optical technologies are the very basis of JENOPTIK’s business with the majority of their products and services being provided to the photonics market. JENOPTIK’s key target markets primarily include the semiconductor equipment industry, the medical technology, automotive and mechanical engineering, traffic, aviation as well as the security and defense technology industries. JENOPTIK is listed on the Frankfurt Stock Exchange, has more than 4,100 employees and generated revenue of approx. 855 million euros in 2019.
About Deloitte – Corporate Finance Advisory
As leading independent M&A advisors, we provide M&A deal execution and financial advisory services to large and mid-market corporations as well as to private equity firms globally. We offer financial advice and insight at every stage of a transaction – from consideration of strategic options to transaction execution, be it an IPO, acquisition or divestment, restructuring or fast track disposal. We pride ourselves in our independent advice to our clients.
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