Leoni AG consistently pursues its strategic focus in order to leverage the market potential in the automotive and commercial vehicle industries in the coming years from a strengthened position: the international automotive supplier is selling its subsidiaries Leoni Fiber Optics GmbH, Leoni Fiber Optics, Inc. and j-plasma GmbH to a consortium of buyers around Weinert Industries AG. The transaction is expected to be closed in the first quarter of 2022.
The portfolio of Leoni Fiber Optics and j-plasma includes special fibres in the areas of optical metrology and industrial data transmission. As is well known, Leoni AG intends to strategically focus on consolidating its leading position as a supplier and service provider of wiring systems for passenger cars and commercial vehicles – for example in the growing business of alternative powertrains. Against this backdrop, Leoni has already sold several non-automotive units in 2021 (Business Group Industrial Solutions, Leoni Schweiz AG and the data communication and compound units of Leoni Kerpen GmbH).
The sale of Leoni Fiber Optics and j-plasma is carried out as a management buy-out supported by investors: Weinert Industries AG consists of Andreas Weinert, Thüringer Industriebeteiligungs GmbH & Co. KG and Mittelständische Beteiligungsgesellschaft Thüringen mbH. Andreas Weinert founded part of the now-sold units himself in 2001 and currently serves as Director Technology Management of Leoni Business Unit Fiber Optics. He will head the company, which will operate under the name Weinert Group, with around 300 employees at six locations in Germany and one in the U.S. The sold activities generated sales of around € 50 million in fiscal year 2020.
The transaction is still subject to approval by various boards and customary closing conditions, including merger control, and is expected to close in the first quarter of 2022.
Original announcement: LEONI LCS
Image source: Courtesy of LEONI LCS
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