Thermo Technologies has been acquired by Edify SA

Edify SA has purchased 84.5% of Thermocompact SA by acquiring 100% of its controlling parent company, Thermo Technologies, a leader in the coating, EDM wires and high technology solid and stranded wire industries. The current managers will reinvest in the company alongside Edify. Financial details have not been disclosed.

Theremocompact has developed dedicated expertise in the precious metals coating and high technology wire for the EDM applications market, and the fixed abrasive highly technical engineered wires for photovoltaic, electronic and LED industries. The company offers its customers in the automotive, aeronautics, space, connectors, medical and precision cutting industries optimum technical results in terms of performance and productivity. Founded in 1913, Thermocompact has 400 customers across 35 countries and employs 280 people. In 2016, its sales amounted to US$81.9 million with an EBITDA of US$10.4 million.

Gilles Mollard, CEO at Thermocompact SA, said: "Our partnership with Edify stems from a shared entrepreneurial approach and a common strategic vision. It will provide us with increased resources to continue our expansion into new international markets and to support innovation in high technology wires and metal coatings. We are taking this new direction with both confidence and enthusiasm."

Edify is an industrial holding company listed on the Euro-MTF market of the Luxembourg stock exchange. Its portfolio is comprised of majority and minority shareholdings in French, Spanish and Swiss medium-size industrial businesses and SMEs.

Oaklins' team in France advised the shareholders of the parent company that controls Thermocompact, Thermo Technologies, throughout a dual-track process and managed the sale to Edify.