📋 Tender Overview
Kendrion N.V. a leading developer manufacturer and marketeer of high-quality electromagnetic systems and components for industrial and automotive applications has acquired 3T a Netherlands-based software and electronics development company. In the transaction Kendrion has acquired 100 of 3Ts shares for an undisclosed amount which Kendrion will finance from existing resources. The acquisition is expected to have an immediate accretive effect on Kendrions earnings per share.3T is an established specialist developer manufacturer distributor and provider of lifecycle management services for client-specific electronics and embedded systems. With facilities in Enschede and Eindhoven 3T employs some 80 FTE and realizes around EUR 12 million in annual profitable revenues. It offers a strong strategic fit with the control technology activities of Kendrions Business Group Industrial Actuators and Controls.In addition 3Ts extensive experience in software and electronics development is expected to be strategically important for Kendrions Automotive Group where the increasing content of leading-edge electronic components in passenger cars and commercial vehicles offers a significant growth opportunity.3Ts highly skilled employees and proximity to leading technical universities and other institutions of higher technical education enhance Kendrions ability to further build and manage a talented team of software and electronics developers.Joep van Beurden CEO of Kendrion We are excited about the advantages that joining forces with 3T will deliver to Kendrion and our organic growth plan. Firstly 3Ts exisitng business is a strong addition to our own Business Group Industrial Actuators and Controls and will create new growth opportunities. Secondly our Automotive Group will benefit from 3Ts 30-plus years of experience in advanced software and electronics development de-risking the development of our lighthouse projects around sound actuation smart shock absorber actuators and sensor cleaning systems. These products are targeted at Autonomous Connected Electric and Shared ACES vehicles and offer a substantial organic growth opportunity for many years to come. Thirdly this acquisition adds two locations to our Group that provide direct access to leading technical talent supporting us to continue extending our technical capabilities required for developing advanced and smart actuators. And finally we are extremely impressed by the strong 3T team and the relationships they have built with their clients. We are pleased to welcome them into our Group.Richard Mijnheer CEO of 3T With Kendrion we have found the right partner to advance and expand our business. The combination of 3T and Kendrion will offer successful growth opportunities beyond our current markets working under our own strong brand as part of the Business Group IAC and broader Kendrion Group. Chimwemwe de Gaay Fortman Director Capital of Oost NL As a former shareholder we are proud of the substantial growth of 3T over the last few years. 3T has worked on intelligent products that contribute to a safe healthy and sustainable world and has generated significant employment opportunities in East Netherlands. 3T will remain based in Twente to optimally benefit from the talent of local knowledge institutions University of Twente and Saxion. We are convinced that 3T will successfully continue its growth path in combination with Kendrion given the expected synergies and impressive market opportunities.3T will be integrated into Kendrions Business Group IAC where it will combine with IACs control technology activities. The joint team has identified several exciting cross-selling and other commercial opportunities. Kendrion intends to retain the 3T brand and its facilities in Enschede and Eindhoven as well as 3Ts existing management.Profile of Kendrion N.V.Kendrion develops manufactures and markets high-quality electromagnetic systems and components for industrial and automotive applications. For more than a century we have engineered precision parts for the worlds leading innovators in passenger cars commercial vehicles and industrial applications. As a leading technology pioneer Kendrion develops designs and manufactures complex components and customized systems as well as local solutions on demand.We are committed to the engineering challenges of tomorrow and taking responsibility for how we source manufacture and conduct business is embedded into our culture of innovation. Rooted in Germany headquartered in the Netherlands and listed on the Amsterdam stock exchange Kendrions expertise extends across Europe to the Americas and Asia. Created with passion and engineered with precision.
