GPV acquires Swiss-based EMS company CCS Group

Today, GPV, Denmark’s largest EMS (Electronics Manufacturing Service) company, signed an agreement to acquire Swiss-based peer CCS, which is headquartered in Lachen, Switzerland. The transaction has an enterprise value of approximately DKK 800 million on a debt-free basis.

The agreement is subject to approval by the relevant authorities, and the transaction is expected to be completed by the end of 2018. Except for transaction costs incurred in 2018, the acquisition will not affect the current full-year guidance.

Founded in Switzerland in 1985 under the name Formatest AG, the CCS Group specialises in electronics, system integration and cable harness manufacturing. The company operates production facilities in Switzerland, Germany, Austria, Slovakia, Sri Lanka and China. CCS reported revenue of DKK 1.4 billion and EBITDA of close to DKK 100 million in 2017. The company employs about 2,300 people, of which some 50% are based in Europe and the rest in Sri Lanka and in China.

The CCS business complements GPV’s current activities and market coverage. The transaction creates a strong global EMS business headquartered in Denmark that will have production facilities in Asia, Europe and the Americas, about 3,700 employees and combined revenue of about DKK 2.6 billion.

For further information, see the press release issued today.

Schouw & Co.'s Q3 interim report is scheduled for release on 12 November 2018.

Aktieselskabet Schouw & Co.

Jørn Ankær Thomsen, Chairman

Jens Bjerg Sørensen, CEO, tel.

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