C-MAC Group expands European Operations by acquisition in U.K.

C-MAC Electronics BVBA, a leading specialised electronics manufacturer to the European automotive, aerospace and industrial markets, today announced the acquisition of the business and assets of Warwick-based, SMT Developments Limited (in Administration). C-MAC takes over the business as a going concern from Administrators, Moore Stephens LLP. C-MAC was advised by commercial law firm, Leeds-based, Walker Morris LLP. The move will secure the jobs for the 30+ employees of the company.

Commenting on the move, Ken Henderson, CEO of the C-MAC Group, stated: “We recognise the valuable reputation and relationships that SMT has established with its customers, as a reliable and trusted electronics manufacturing service provider within the English Midlands. C-MAC will be investing in the company to build a secure future for the business and for all our employees as part of our strategy to build a greater presence in the U.K.” He commented further that the new Company would be known as C-MAC SMT Limited.

Prof. Olav Noack, CEO of Zobel Values, the family office behind C-MAC, stated: “We are proud to see C-MAC thrive in its industry and to have our first footprint in the UK with C-MAC SMT.“

Lee Causer, Partner at Moore Stephens, added: ‘’We are delighted to have concluded a sale of the business which has resulted in the preservation of jobs for over 30 employees.

‘’In addition, we are expecting the transaction to result in a substantial dividend being made available to the unsecured creditors.

“We wish the employees and the new owners every success for the future”
 
 

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