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Press release Box-ID: 1086949

JENOPTIK-KONZERN Carl-Zeiß-Straße 1 07743 Jena, Germany http://www.jenoptik.com
Contact Ms Leslie Iltgen +49 3641 652255
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JENOPTIK AG signs agreement to sell VINCORION

(PresseBox) (Jena, )
JENOPTIK AG has signed an agreement to sell the VINCORION division. It will be acquired by a fund managed by STAR Capital Partnership LLP (“STAR”). STAR is a leading private equity firm investing in medium-sized companies across Europe. 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. Due to the signing of the agreement to sell VINCORION the division will be classified as “discontinued operations” already in the current fiscal year, and, therefore, will not be included e.g. in group revenue anymore. In total, there will be no change to the guidance 2021 when both, continuing operations and discontinued operations, are taken into account. 

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JENOPTIK-KONZERN

Optical technologies are the very basis of our business: Jenoptik is a globally active technology group and is active in the three photonics-based divisions: Light & Optics, Light & Production and Light & Safety. Under the TRIOPTICS brand, Jenoptik also offers optical test and manufacturing systems for the quality control of lenses, objectives and camera modules. VINCORION is the brand for our mechatronic business. Our key target markets primarily include the semiconductor industry, medical technology, automotive and mechanical engineering, traffic, aviation as well as security and defense technology industries. Approximately 4,300 employees work for Jenoptik worldwide. The Group's headquarters are in Jena (Germany). JENOPTIK AG is listed on the German Stock Exchange in Frankfurt and is included in the SDax and TecDax. In the 2020 fiscal year, Jenoptik generated revenue of approx. 767 million euros.

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The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.