LACROIX Group — M&A Activity 2011

May 31, 2011

St. Pierre Montlimart, May 26th 2011

LACROIX ELECTRONICS STRENGTHENS ITS ACTIVITIES BY INTEGRATING T.E.S. DESIGN CENTERS INTO ITS LACROIX ELECTRONICS SOLUTIONS ENTITY

This transaction falls under the partial takeover of the assets of TES France, in receivership. The ownership transfer plan was validated by the Commercial Court (Tribunal de Commerce) of Rennes on May 26th, 2011 and will become effective on June 1st, 2011.

LACROIX ELECTRONICS SOLUTIONS, as the design services entity of LACROIX ELECTRONICS, is specialized in robust development and embedded electronics mainly for the industrial, aerospace/defense, automotive and transport markets.

It develops customized solutions and supports its customers from design through industrialization of electronic products, as a complement to the manufacturing services provided by LACROIX ELECTRONICS.

This complementarity enables to offer services such as EDMS « Electronics Design and Manufacturing Services » or CDM « Contract Design Manufacturing», in order to meet the expectations of customers looking for one-stop shop solutions, to optimize time-to-market and to supply quality products to cost.

Technical and geographical complementarity

LACROIX ELECTRONICS SOLUTIONS leverages on 3 R&D centers located in Vern-Sur-Seiche (near Rennes), Ramonville (near Toulouse) and Willich (near Düsseldorf, Germany).

TES has 3 R&D centers in Bruz (near Rennes), Fontaine (near Grenoble) and Quimper.

• The team taken over by LACROIX in Bruz and the team in Vern-Sur-Seiche will be grouped together in Vern-Sur-Seiche. The objective is to build a strong basis for the R&D activity of LACROIX ELECTRONICS SOLUTIONS, which will rely on the best practices of both companies and on the competences in every area of embedded electronics.
• The Fontaine R&D Center, with its thorough expertise particularly in FPGA and high-speed design, has a geographical positioning sought-after by LACROIX ELECTRONICS SOLUTIONS, considering the local industrial network in the Rhône-Alpes region.
• The Quimper center and its specific competences, particularly in mechanics and product qualification, is the last piece of the technical and geographical puzzle, together with the Toulouse center of LACROIX ELECTRONICS SOLUTIONS which is located at the heart of the « Aerospace Valley » and an aerospace expertise center (DO254 expertise, EN9100, PART21 and PART145 certifications or accreditations …).

These teams are also supported by a network of partners, among which is the Tunisian Group TELNET, with more than 500 engineers and technicians, which ranks first in Tunisia in the field of engineering services to the sector of scientific and technical information technologies.

A strong cultural proximity

The historical positioning of TES on the market of design is fully consistent with the CDM approach of the company LACROIX ELECTRONICS SOLUTIONS. The new structure thus provides complete

and sustainable solutions to customers and prospects, and stands as an outstanding growth area both for the « design » and « manufacturing » activities of LACROIX ELECTRONICS.

With this new organization, LACROIX ELECTRONICS SOLUTIONS now has a team of 99 engineers and technicians specialized in complete development solutions (embedded electronics, mechanics, software, high-speed design, FPGA, PCB Design…) with expertise in development & industrialization connected to the manufacturing world.

This stronger design capability enables LACROIX ELECTRONICS to speed up its development and thus become a major player in European EDMS.

About LACROIX Electronics

LACROIX ELECTRONICS, as a provider of Electronic Manufacturing Services, is one of the 3 divisions of the LACROIX Group. Its revenues increased by nearly 15% in 2010 to €130M. Historically based in Vern-sur-Seiche and Saint-Pierre-Montlimart, LACROIX Electronics has reached a European position in a few years with first a plant built in Kwidzyn (Poland) in 1998, then in Zriba (Tunisia) in 2005, and later the acquisition in 2008 of the Willich facility (Germany) and of the Ramonville R&D Center (Toulouse area).

Press contact

Hélène NICOU – Marketing Department Tel. +33 (0)2 41 75 98 63 – Fax : +33 (0)1 72 27 54 16 e-mail : h.nicou@lacroix-electronics.com