LACROIX Group SA (ENXTPA:LACR) and Bpifrance agreed to acquire 75.5% interest in Firstronic, LLC on December 16, 2021. The current management team will remain fully committed in the new organization: John Sammut, present since 2011, will remain CEO of FIRSTRONIC and will retain 4% of share capital in it, while Jochen Lipp, COO since 2013, will take an equity stake in FIRSTRONIC of 3%. LACROIX, which already has a 12.5% shareholding, will rise its equity stake in FIRSTRONIC to 62% at the end of the operation. As part of the agreement, co-investing alongside LACROIX, Bpifrance will take a 26% stake in FIRSTRONIC through its International Build-Up Fund Beyond the identified commercial and industrial synergies, and economies of scale, which were behind the initial acquisition of a stake in 2017, incorporating FIRSTRONIC should immediately prove accretive within the upcoming financial year, especially in terms of EBITDA margin. Jack Calderon, Géraud Estrangin, Chaim Lubin, Robert Satow and Andrew Ortega of Lincoln International LLC acted as financial advisors to Firstronic, LLC.

LACROIX Group SA (ENXTPA:LACR) and Bpifrance completed the acquisition of 75.5% interest in Firstronic, LLC on January 10, 2022.