Vincorion develops, produces, and sells mechatronic products in particular for the defense and security sector, the aviation as well as the rail and transportation industries.

“The sale of Vincorion is a further milestone in transforming Jenoptik into a focused and globally leading photonics company. I am convinced that the transaction will have a positive impact on the Group’s earnings position, risk profile, and financing power. It will also enable ESG-oriented investors to invest in Jenoptik. In addition, we are convinced that with STAR we have found the right owner to realize the potential we see for Vincorion. In addition, it was important to us that STAR was willing to grant location guarantees,” says Stefan Traeger, President & CEO of Jenoptik AG.

The equity value is in the mid double-digit million euro range. In addition, there are claims and obligations (e.g. resulting from pension obligations) in the mid double-digit million euro range as well as certain earn-out components. The enterprise value amounts to approximately 130 million euros. Both parties have agreed not to disclose any further details.

Closing of the purchase agreement is still subject to approval by the responsible authorities and other customary closing conditions. Closing is expected to take place in the second half of 2022.

In 2020, the division had approximately 800 employees and generated revenue of 151.7 million euros with an EBITDA margin of 11.0 percent. 

Steen Associates acts as exclusive adviser to STAR Capital on their acquisition of Vincorion from Jenoptik AG.

– Ends –

Notes to Editors:

1

Steen Associates Frankfurt Office

Brentanostraße 6
60325 Frankfurt
Germany

2

Steen Associates London Office

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London, WC2B 5BB
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3

Steen Associates Paris Office

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4

About Steen Associates

Steen Associates is an M&A advisory firm specialising in the aerospace, defence and industrial sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, Frankfurt, New York and Paris.

For more details about Steen Associates please visit www.steenassociates.com.

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Contact Details

 

Joerg Freimund
Partner
Steen Associates
Frankfurt

T: +49 69 770 1992 00
E: joerg@steenassociates.com

Emmanuel Roger
Partner
Steen Associates
Paris

T: +33 1 70 79 13 10
E: emmanuel@steenassociates.com

Jason Steen
Partner
Steen Associates
London

T: +44 (0)20 7405 5040
E: jason@steenassociates.com