Leoni has acquired the US-based fibre optics group RoMack as it restarts acquisition activities it suspended at the start of the financial crisis.
Terms of the deal were not disclosed.
Leoni, a leading provider of cables and cable systems to the automotive sector said the deal owas part of its strategy of strengthening its position in niche markets by means of acquisition.
“The Leoni Group has with this acquisition resumed its acquisition activity, which we temporarily suspended because of the economic crisis. Our objective is to expand in fast growing and profitable niche markets,” Klaus Probst, president and CEO of Leoni, said. “This acquisition of RoMack strengthens us in both regional and technological terms.”
The purchase is being executed via subsidiary FiberTech USA, which belongs to the Leoni Fiber Optics unit. It specialises in business involving optical fibre.
RoMack was established in 1982 and is based in Williamsburg, Virginia. With a staff of about 40, the company generates a mid seven-digit euro sales figure, the company said. RoMack is a specialist in fibre optic system solutions for industry and science, making highly-developed products particularly for the aerospace sector, optical analysis, medical devices and industrial lasers.
The company said the takeover will place Leoni Fiber Optics among a dozen providers worldwide with complete command of optical base technologies in development and production – from product design to preform and fibre production through to making fibre optic cables and special optical components.