With the acquisition of SigmaPoint Technologies Inc. in Cornwall, Canada, Munich-based Katek SE plans to expand its industry presence in North America to include the areas of homeland security and defense. SigmaPoint is one of Canada's leading providers of high-quality electronic systems and is known for its series production based on strict lean principles in the medical, industrial controls, embedded electronics and IoT market sectors. The transaction is expected to close at the end of the second quarter and is still subject to approval by the competition authorities.
SigmaPoint is forecasting annual sales of over USD 100 million in the medium term and is currently benefiting strongly from the reshoring trend in North America, which is being driven by supply chain disruptions due to the pandemic and economic and geopolitical tensions. The company employs 280 people. SigmaPoint's largest customer in North America is already one of KATEK's top 5 customers in Europe.
Katek's investment in SigmaPoint is intended to open up further markets in addition to Europe. Katek CEO Rainer Koppitz says: "The decisive factor was the very good fit between the corporate cultures. This will strengthen the existing synergies in the areas of sales, supply chain and lean manufacturing. Dan Bergeron, CEO of SigmaPoint, and the entire management team will continue to lead SigmaPoint after the acquisition." Bergeron: "Our companies have a lot in common, especially the work culture, customer-oriented values and lean principles." Becoming Katek Group's first company in the American market is a testament to the outstanding team and rapidly scaling business. "I am excited about the potential for our customers and the local community in the areas of supply chain, design support, rapid prototyping and global distribution."
