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Jenoptik has successfully completed acquisition of TRIOPTICS GmbH: Company will be an additional key pillar of the Light & Optics Division
As already stated the enterprise value equates to a combined 2021e EV/EBITDA multiple of 10.4. Both parties to the contract have agreed not to disclose details of the purchase price.
Stefan Traeger, Jenoptik President & CEO: “Due to its high profitability and strong free cash flow generation, TRIOPTICS will contribute significantly to Jenoptik’s earnings already in the current fiscal year with the initial consolidation starting on the day of closing. Substantial synergies are expected not only from the expanded technological know-how, but also from the expansion of leading market positions and the intensified cooperation with important global Tier 1 companies. The complementary portfolios will allow to offer a broader range of measuring systems, as well as production facilities for sensor solutions and optical microcomponents, which over the long term might be reflected in economies of scale and thus revenue synergies worth more than 50 million euros”.
Jenoptik will provide further details regarding the financial impact of the acquisition on net asset, financial and earnings position of the Group with the reporting of the annual results 2020 in March, 2021.
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 and amortization of around 27 percent. Since its founding in 1991, TRIOPTICS has developed proprietary technology for global customers in attractive growth markets. The company generates more than half of its revenue in Asia.
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