Company divests two activities from within Barco’s Manufacturing Services Division
Boston, MA -- (ReleaseWire) -- 02/07/2007 --Downer & Company, LLC, an international investment banking firm specializing in middle-market cross border acquisitions and divestitures, is pleased to announce that it has advised Barco, a global technology company headquartered in Kortrijk, Belgium, on the sale of its Electronic Manufacturing Services activity to IPTE and its Prints activity to Elprinta. The activities were part of Barco’s Manufacturing Services division. Both transactions closed on January 9 and the values were not disclosed.
IPTE is a market leader in the supply of production equipment for the electronics industry and Electronic Manufacturing is the surface mounting activity of Barco Manufacturing Services. Approximately 75% of €60 million in sales generated by the Electronic Manufacturing activity represented internal sales to Barco’s other divisions. The sales agreement stipulates that IPTE will be Barco’s leading supplier for surface mounting projects for a period of five years through its manufacturing sites in Belgium (Poperinge) and the Czech Republic (Kladno).
Emmanuel Wydooghe, Vice President with Downer & Company, commented on the transaction, “The acquisition of Barco’s Electronic Manufacturing Services activity by IPTE has created a win-win situation for both companies. The transaction will increase Barco’s flexibility and subsequently allow Barco to focus on its core business of designing, developing and marketing advanced visualization technologies and products for a large variety of growing markets. With this acquisition, IPTE has increased the footprint of its organization through plants in Belgium, Germany, the Czech Republic and Romania and has raised its technical expertise in the market of PCB assembly services.”
The Prints activity of Barco Manufacturing Services produces high-end single-sided, double-sided and multilayer printed circuit boards for various industrial markets. Elprinta has more than 25 years of experience manufacturing comparable printed circuit boards for the consumer, automotive, industrial, and consumer sectors. The Barco Prints facility in Poperinge, Belgium will be renamed “Multiboard” and 59 of the 80 Barco employees are expected to transfer to this new company.
“This transaction has created an important specialty manufacturer of small and medium-sized series printed circuit boards,” stated Mr. Wydooghe. “Barco has added an excellent group of PCB manufacturing experts to Elprinta’s existing team and both companies will greatly benefit from synergies in engineering capabilities.”
Downer & Company’s engagement team for the two Barco transactions included Emmanuel Wydooghe (Vice President), Gilles Glorieux (Associate), Wassim Heneine (Associate), and Michael Schenck (Analyst) in the firm’s Paris office.
About Downer & Company
For thirty years, Downer & Company, LLC, has gained distinction as a leading middle-market M&A firm focused on the execution of acquisition and divestiture mandates for international and domestic corporations and private equity firms. Downer & Company is headquartered in Boston, Massachusetts, and has offices in Paris, Dublin, Frankfurt and Sydney. Downer & Company received an award for transacting the "International Cross-Border Deal of 2004" and was recognized as the top Investment Banking Firm of 2003 by The Mergers & Acquisitions Advisor. Downer & Company's corporate headquarters are located at 60 State Street, Boston, MA 02109. For further information, visit www.downer.com.
Emmanuel Wydooghe, Vice President
Patti Allan, Marketing Director
Downer & Company, LLC