PRIMEPULSE, advised by HEUKING, sells majority stake in publicly listed KATEK SE to Kontron

A HEUKING team, led by Munich-based Partner Boris Dürr, advised PRIMEPULSE SE on the sale of its majority stake in publicly listed KATEK SE to Kontron Acquisitions GmbH, a wholly owned subsidiary of publicly listed Kontron AG. The transaction involved the sale of roughly 60% of all KATEK shares at a price of about EUR 130 million. With antitrust approval still pending, closing of the transaction is expected for March 2024. As a result of the transaction, Kontron will assume control of KATEK SE and will subsequently make a mandatory offer to outside shareholders.

KATEK group is a leading European electronics service provider whose service range covers the entire lifecycle of electronic assemblies and devices. KATEK particularly focuses on the development of renewable energy technology such as control electronics for PV systems and intelligent charging solutions for EVs. With over 3,500 employees at sites in Europe, Asia, and North America, KATEK group is forecast to generate sales in excess of EUR 750 million in fiscal 2023.

PRIMEPULSE SE is a Munich-based investment holding firm. PRIMEPULSE is backed by the successful founders, entrepreneurs, and long-time managers of CANCOM SE, which is listed on the TecDAX. PRIMEPULSE’s investing activities are focused on the IT and technology sector, as well as associated growth sectors. PRIMEPULSE’s portfolio companies include publicly listed Stemmer Imaging AG and cloud-managed service provider glueckkanja AG.

Austrian company Kontron AG specializes in autonomous device communications (IoT). Kontron’s acquisition of KATEK expands its product portfolio in the rapidly increasing photovoltaics and eMobility smart charging markets. The acquisition of KATEK SE is the largest acquisition in Kontron’s history. In line with the acquisition, Kontron raised its 2024 forecast to consolidated sales of at least EUR 1.9 billion and net profit of about EUR 100 million.

The Heuking team regularly advises PRIMEPULSE on transactions and other projects, such as the acquisition of then-KATEK GmbH from Kathrein group in 2018. HEUKING subsequently advised on several add-on transactions, including KATEK SE’s IPO in 2021.

Counsel to PRIMEPULSE SE
HEUKING:
Boris Dürr (Lead, M&A),
Christian Schild, LL.M. (Corporate/M&A),
Peter M. Schäffler (Tax),
Andreas Schruff,
Felix Noack (both Corporate/M&A), all Munich