30 Sep 13. Qioptiq and Excelitas Technologies announce that they have entered into an agreement for Excelitas Technologies to acquire one hundred percent of the shares of Qioptiq. Qioptiq was formed in 2005 when it was acquired from Thales by Candover Partners It has been managed by Arle Capital Partners since 2010. During the period from 2005 Qioptiq has developed into a strong global specialist in the photonics industry serving the commercial, defence and aerospace markets. Qioptiq operates from ten different locations in Germany, UK, Singapore, US and Hungary and employs over 1,900 people. Excelitas Technologies provides innovative, customized optoelectronics and advanced electronic systems to a global customer base of leading OEMs seeking high-performance, market-driven technology solutions. Commenting on the sale, David Marks, CEO of Qioptiq said: “Since the formation of Qioptiq in 2005, the company has developed into a strong player in the photonics industry, through organic growth and strategic acquisitions. The strength of the new combined entity will benefit our customers and create opportunities for our employees.”
Terms of the deal are not being disclosed. The transaction is subject to customary closing conditions and is expected to be completed in the next sixty days.
26 Sep 13. The head of European aerospace giant EADS said Thursday he was in no rush to sell off its holding in Dassault Aviation as a major shareholder has urged. “It’s not a strategic investment and we will decide on the future when we think it’s time to do that, I do not see a terrible urgency to proceed,” Enders said at a meeting of the European American Press Club. Since last month, an activist investment fund, The Children’s Investment Fund, has been publicly calling upon EADS to sell off its 46-percent stake in the French aircraft maker, saying it is a poor use of capital. According to the latest published information, the fund holds around 1 percent of shares in EADS, which is to change its name in January to Airbus after its commercial aircraft unit. Enders called the stake in Dassault Aviation, which makes the Falcon business jets and Rafale fighter used by the French military, “a very good investment”, but noted EADS had inherited it when the company was formed in 2000. As the stake does not allow EADS to influence Dassault’s business strategy the investment is not strategic. EADS in June signed a 90-year agreement with the French government giving it the first option to buy any shares EADS decides to sell. (Source: Defense News)
29 Sep 13. EADS, Safran Offer to Buy Avio Space. European firms Safran and EADS have both made non-binding offers to buy the space activities of Italian propulsion firm Avio, which could come up for sale at the end of October, according to an Italian source familiar with the talks. The two offers are both around €300m (US$404m) and give “very similar” guarantees on maintaining jobs and technology in Italy, the source said. (Source: glstrade.com/Defense News)
01 Oct 13. Eurotech, a leading provider of embedded products and technology and of high energy efficient supercomputers, has signed an agreement with Curtiss-Wright Controls, Inc. – a segment of Curtiss-Wright Corporation – for the sale of 100% of the share capital of Parvus Corporation, the American fully-owned subsidiary of the Eurotech Group specialized in embedded computers and COTS subsystems for the US Defence market. The consideration for the transaction has been set by the parties at USD 38m (equal to approx. €28.1 at current exchange rates), net debt free. This amount will be subject to adjustments based on the working capital as at September 30th, 2013. Positive adjustments in favour of Eurotech will have a cap of USD 300,000. The collection of the consideration, net of escrow deposit for 18 months to cover contractual warranties, will be USD 35 m at the closing date, which is today October 1st 2013, while the adjustment based on the work