Building on the momentum of its successful IPO, Stemmer Imaging AG is pursuing its growth strategy. As part of a share deal operation, Stemmer Imaging SAS, a 100% subsidiary of Stemmer Imaging AG, acquired 100% of the shares of the French company Elvitec SAS
Located in Pertuis near Aix-en-Provence, the company is a distributor of camera solutions for industry, surveillance and imaging. Stemmer Imaging AG management expects the acquisition to result in an expected increase in revenue of nearly € 9 million as well as an EBITDA margin of around 11% for Elvitec during the 2018/2019 fiscal year. The company is consolidated with retroactive effect from 1 July 2018.
“France is an exciting and growing market for everything related to automation and robotics. We are one of the main suppliers of machine vision technologies in Europe; It is therefore important for us to be well positioned and to grow in key markets, as we defined in our strategy. We successfully acquired Data Vision at the end of January and are today very pleased to have found a new, promising acquisition target, ” says Lars Böhrnsen, CFO of Stemmer Imaging AG.
“With Elvitec, we are supplementing our portfolio with a distributor with a well-developed network. At the same time, we are strengthening our presence on the French market and our expertise for French-speaking countries. In short, we have won by our side a well-established supplier in its territory, which is at the same time the perfect complement for our group, ” says Christof Zollitsch, Managing Director of Stemmer Imaging AG.