Alliance Electronics announces the acquisition of Elekto and TME

This operation is part of Alliance Electronics' organic and external growth strategy to become the European leader in the high mix-low volume segment.

It will support the strong growth of Elekto and TME through joint investments, notably in digitalisation, in order to better serve customers and facilitate the work of employees.

"I was seduced by Alliance Electronics' industrial project, which will accelerate the growth of TME and Elekto while preserving their DNA," says Bruno Sonnet, CEO of both companies.

"The excellence of the TME and Elekto teams will allow Alliance to enrich its offer with the realisation of very complex boards," adds Damien Rossignon, President of Alliance Electronics.

Armel Fourreau, Managing Director of Alliance Electronics, adds: "Elekto and TME customers will be able to benefit from the expertise of the other Alliance members on simpler products and in higher volumes, while keeping the proximity with their usual contacts."

TME and Elekto are based respectively in Gorron and Andouillé, in the Mayenne region of France, and specialised in the manufacture and integration of electronic boards, assemblies and sub-assemblies.

Their high value-added offers range from prototyping to medium-sized production runs, for an international and diversified customer base in the fields of image processing, medical, aeronautics, defence, and industry.

The two companies join the five previous members of Alliance Electronics (ACE Electronics, Altrics France, Altrics Portugal, ATEMS, Proto-Electronics), for a total of approximately 1,000 employees. Bruno Sonnet will remain a shareholder of both entities through his investment in Alliance Electronics.

Combined with other acquisitions in progress, it will allow Alliance Electronics to reach its objective of €100M in revenues by 2022, thanks to the support of its financial partner Waterland Private Equity.