Leoni
Leoni Fiber Optics and j-plasma sold
The international automotive supplier Leoni has signed an agreement to sell its subsidiaries Leoni Fiber Optics and j-plasma to Weinert Industries. The transaction is expected to be completed in the first quarter of 2022.
The portfolio of the Leoni Fiber Optics companies and j-plasma includes special fibers in the fields of optical metrology and industrial data transmission. As Leoni intends to focus strategically on consolidating its position as a supplier and service provider of wiring systems for passenger cars and commercial vehicles, the company has already disposed of several non-automotive units (Business Group Industrial Solutions, Leoni Switzerland, Adaptricity and the Data Communication and Compound divisions of Leoni Kerpen).
The sale of Leoni Fiber Optics and j-plasma is taking place as part of a management buy-out with the support of investors: Weinert Industries is backed by Andreas Weinert, Thüringer Industriebeteiligungs and Mittelständische Beteiligungsgesellschaft Thüringen. Andreas Weinert founded part of the now sold units himself in 2001 and is currently Director Technology Management of Leoni's Fiber Optics business unit. He will head the company, which will operate as the Weinert Group in future, with around 300 employees at six locations in Germany and one in the USA. The sold activities generated a sales volume of around EUR 50 million in the 2020 financial year.
The completion of the sale is still subject to the approval of various bodies and is subject to the usual closing conditions such as approval by the antitrust authorities. Completion is planned for the first quarter of 2022.
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