GPV belongs to the Danish conglomerate Schouw & Co. The merger of the two companies will create one of the largest electronics manufacturing companies in Europe with sales of around EUR 350 million and 3,700 employees. CCS is currently owned by a private equity fund advised by Patrimonium/Switzerland which will sell all its shares to GPV. The transaction is expected to be completed before the end of 2018.
The CCS Group and GPV are active in the EMS sector with core businesses in electronics, mechatronics, precision mechanics, and cable harnesses and both have performed well in recent years. The merger creates a strong global EMS provider with approximately 3,700 employees and production sites in Asia, Europe, and America and total sales of approximately EUR 350 million.
A More Potent Joint EMS Business in the High-Mix/Low-Volume Segment
The CCS Group and GPV both successfully serve the HMLV (High-Mix/Low-Volume) segment of the EMS market. Both companies offer both electronic semi-finished products and finished products (complete assemblies) with a high product mix in small and large series. In the electronics sector demand for this form of supply is steadily rising. CCS has its own product design and development department, which focuses on custom-specific electronic applications and cable assembly. GPV has a large test development department, its own mechanical manufacturing capacities and a presence on the American continent. As a result, the combined company is more broadly positioned in the value chain in all markets.
GPV and CCS Complement Each Other on Three Continents
"Greatness counts, no doubt about it. Our procurement power and production capacities will double, and together we will occupy an even stronger position in the market. This gives us the strength and capacity to take on more orders from our joint customer base," says Bo Lybæk, designated CEO of the new company. The current CCS CEO Thomas Kaiser will continue to lead CCS and will also be responsible for its integration into the newly formed group. He adds: "We are very excited to be part of GPV, which we know as a competent and capable industry colleague. At the same time, it is very important to us that GPV's owner, Schouw & Co., is known for its strategic and long-term orientation and has the financial strength to invest in growth and further develop our business".
Most of CCS's customers are located in the German speaking part of Europe, while most of GPV's customers are located in Scandinavia, Great Britain, and the US. GPV has production facilities in Denmark, Mexico, and Thailand, while CCS manufactures in Switzerland, Germany, Austria, Slovakia, Sri Lanka, and China. The newly created and larger EMS Group will operate under the name GPV with headquarter in Denmark. CCS's customers will continue to be served by the existing CCS subsidiaries and their employees in Switzerland, Germany, Austria, and other countries. Overall, it is the intention of the two companies to become even stronger together.