Cicor Successfully Closes the Acquisition of STS Defence Limited
January 24, 2024 | Cicor Technologies Ltd.Estimated reading time: 1 minute
The Cicor Group has successfully closed the acquisition of 100% of the shares of the UK based STS Defence Limited (STS Defence) announced in October 2023.
Cicor is one of Europe's fastest growing manufacturers of high-reliability electronics for medical, industrial and aerospace & defence applications. With STS Defence, Cicor has acquired an industry-leading provider of sustainment, support and modernization solutions for mission-critical electronics and communications systems in the aerospace & defence sector. STS Defence has earned an outstanding decades-long reputation for solving complex technical challenges. The UK-based company is recognized as a specialist in the design, manufacture and assembly of equipment and systems, as well as their integration and maintenance throughout the life cycle. STS Defence employs around 150 people in the south of the UK.
With Cicor, the management of STS Defence has found a partner to continue the successful growth of recent years in the UK aerospace and defence market. By combining the strengths of Axis Electronics, which was acquired in 2021, and STS Defence, Cicor is ideally positioned to implement the most demanding customer programs for its predominantly British customers.
Cicor is committed to continue providing superior engineering support and manufacturing services from the existing STS Defence site under the current management team. The continued operation and the integration of STS Defence employees into the Cicor Group will ensure continuity for the long-standing customer base. STS Defence generated sales of GBP 27.5 million in the fiscal year ending on June 30, 2023 with strong operating margins.
Suggested Items
Lockheed Martin Australia, The Department Of Defence Sign Strategic Partnership Head Contract
04/26/2024 | Lockheed MartinLockheed Martin Australia signed a landmark AUD$500 million contract with the Department of Defence to build Australia’s future Joint Air Battle Management System under project - AIR6500 Phase 1 (AIR6500-1).
Cicor Records Solid Growth in Q1
04/16/2024 | CicorThe Cicor Group continued to grow in the first three months of the year. Quarterly sales increased by 11.8% to CHF 107.3 million compared to the first quarter of the previous year (Q1/2023: CHF 96.0 million).
TT Electronics Awarded Contract with Kongsberg Defence and Aerospace
04/11/2024 | TT ElectronicsTT Electronics, a leading provider of global manufacturing solutions and engineered technologies, announced today that its Fairford UK business has been awarded a new contract with long-standing customer Kongsberg Defence and Aerospace (Kongsberg) for the production of complex cable harness solutions.
Airbus to Acquire INFODAS and Strengthen its Cybersecurity Portfolio
03/25/2024 | AirbusAirbus Defence and Space has entered into an agreement to acquire INFODAS, a Cologne-based, German company that provides cybersecurity and IT solutions in the public sector including for defence and critical infrastructures.
Northrop Grumman and Diehl Defence to Collaborate on Integrated Air and Missile Defense Capabilities
03/12/2024 | Northrop GrummanNorthrop Grumman Corporation and Diehl Defence GmbH & Co. KG signed a Memorandum of Understanding (MOU) formalizing their commitment to work together to support innovative layered air and missile defense capabilities for Germany.