TKH N : divests remaining stake in Cable Connectivity Group
November 08, 2022 at 01:14 am EST
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TKH divests remaining stake in Cable Connectivity Group
TKH and Torqx Capital Partners reach agreement with Infinite Electronics on the divestment of Cable Connectivity Group
TKH Group NV ("TKH"), has reached agreement on the sale of its minority 41.5% stake in the Cable Connectivity Group ("CCG" or "the Company"). CCG was created in August 2019, through the divestment of the majority of TKH's industrial connectivity systems to Torqx. TKH initially bought back a 44% stake in CCG to take advantage of and support the further value creation potential at interesting investment terms.
The divestment is executed in the slipstream of the divestment of the stake in CCG, held by Torqx Capital Partners ("Torqx") to Infinite Electronics, a US-based leading global supplier of electronic components. The transaction is subject to customary regulatory approval and is expected to close in Q1 2023 and will result in a one-off net profit contribution of approximately € 35 million for TKH.
Alexander van der Lof, CEO of technology company TKH, comments:"We are pleased that together with Torqx we have reached agreement with Infinite Electronics. The divestment of the remaining stake in CCG fits in our Accelerate 2025 strategy with a focused approach on realizing value creation. We firmly believe that Infinite Electronics is a natural next step for CCG's continuity and future growth, offering a reliable environment for employees, suppliers, and customers."
Penny Cotner, President and CEO of Infinite Electronics, comments:"We are very excited to welcome CCG and the team to Infinite Electronics and our portfolio of high-performing brands. CCG's assembly, brand distribution and production capabilities are a perfect complement to our business model and provide us the unique opportunity to expand our operations in Europe and offer endless possibilities to grow together."
Haaksbergen, November 8, 2022
Executive Board
The complete press release can be downloaded in PDF
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TKH Group NV published this content on 08 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2022 06:13:07 UTC.
TKH Group N.V. (TKH) is focused on high-end innovative technologies in high growth markets. Automation, digitalization, and electrification are the key drivers for the group's innovations.
Through a combination of technologies, TKH offers superior solutions that support to increase the efficiency, safety and security of its customers. The technologies are offered together with software to create smart technologies and one-stop-shop solutions with plug-and-play integrated systems for smart connectivity (42.7% of net sales; energy connectivity and fibre optic connectivity systems for data and communication networks), smart manufacturing (30.6%) and smart vision (26.7%; machine vision and security vision systems).
Net sales are distributed geographically as follows: the Netherlands (24.6%), Europe (38.8%), Asia (19.1%), North America (13%) and other (4.5%).
TKH GROUP N.V. 
