Lumibird announces agreement to acquire Prima Industrie's high power laser and semiconductor businesses
16 Mai 2023 - 7:30AM
Lumibird announces agreement to acquire Prima Industrie's high
power laser and semiconductor businesses
Lannion, 16/05/2023 - 7:30 am
LUMIBIRD ANNOUNCES AGREEMENT TO ACQUIRE
PRIMA INDUSTRIE'S HIGH POWER LASER AND SEMICONDUCTOR BUSINESSES IN
ITALY AND THE UNITED STATES
The LUMIBIRD Group (FR0000038242 -
LBIRD), the European leader in laser technologies, signed on May 15
an agreement with the Italian company Prima Industrie to acquire
its subsidiary Convergent Photonics (Turin,
Italy) and the
Convergent assets of
Prima Industrie North America (Boston, USA). This acquisition gives
Lumibird a strategic advantage in high power semiconductor and
fibre lasers and opens up new markets.
Convergent Photonics has over 50 years of
experience in the design and manufacture of semiconductor lasers
and laser diode packaging, as well as the design and manufacture of
high-power fibre lasers for the medical sector (urology, surgery,
etc.). 80 qualified and experienced people, divided between Italy
and the USA, will join the Lumibird Group. The Convergent
activities had a turnover of 15 million euros in 2022 for a
negative EBITDA of 1.5 million euros.
This acquisition is a new step in the group's
investment strategy and has a double strategic interest by
strengthening its strategic positioning in semiconductors and very
high power fibre lasers, and by opening up new market segments.
Strengthening sovereignty with
semiconductors and very high power fibre lasers
This acquisition will enable Lumibird to further
strengthen its sovereignty in the field of lasers and optronics. It
also completes, with the arrival of the semiconductor, the
strategic investments already made in optical fibre and derived
components. It will enable Lumibird to become independent in the
supply of critical components and will give it greater capacity for
innovation in materials and components, while internalising the
margins on expensive components.
Opening up new markets
The integration of these activities will enable
the development of the medical branch in markets other than
ophthalmology, where the group is already in a leadership position.
In total synergy with the photonics branch, which will supply
high-powered lasers, the path to applications in Urology and
Gynaecology is open.
The parties expect the transaction to be
completed in the second half of 2023, subject to regulatory
approvals in Italy and the US.
Lumibird will finance its acquisition through
its available cash or by drawing on the bank lines available to the
group, in compliance with the covenants.
"Marc Le Flohic, Chairman and CEO of
Lumibird, said: "This acquisition strengthens several of
our technological pillars and is perfectly in line with Lumibird's
strategy of verticalization and sovereignty. It allows us to
vertically integrate critical semiconductor technologies, to
strengthen our sovereignty over laser technologies in Europe, and
to diversify into high growth markets.
Giovanni Negri, CEO of Prima Industrie
commented: “After many years of being
successfully active in the development and production of laser
sources, Prima Industrie has decided to dispose of laser source
business unit, Convergent, in order to focus on main business of
sheet metal machinery and systems. We are pleased to sell it to a
player such as Lumibird that will undoubtedly allow Convergent to
express all its huge potential, based on a high level of
technological know how“.
LUMIBIRD is one of the world's leading laser
specialists. With 50 years of experience and mastering solid-state,
diode and fibre laser technologies, the Group designs, manufactures
and distributes high-performance laser solutions for scientific
(research laboratories, universities), industrial (production,
defence/space, Lidar sensors) and medical (ophthalmology,
ultrasound diagnosis) applications.The result of the merger in
October 2017 between the Keopsys and Quantel Groups, LUMIBIRD, with
more than 1,000 employees and more than €191m in turnover by 2022,
is present in Europe, America and Asia.LUMIBIRD shares are
listed in compartment B of Euronext Paris. FR0000038242 -
LBIRD www.lumibird.comLUMIBIRD
is part of Euronext Tech Leaders
since 2022
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