Leoni AG Sells Majority of its Industrial Business to Strategic Investor BizLink Holding Inc.
Leoni has sold its Business Group Industrial Solutions, which belongs to the WCS division (Wire & Cable Solutions) and represents significant parts of its industrial business, to BizLink. This marks another
important milestone on Leoni’s path towards the long-term stabilization of the company.
“With this step, we are once again proving that we are consistently continuing to implement our announced and already advanced focus on the Wiring System Division,” Aldo Kamper, CEO of Leoni AG, explained. As is well known, the company intends to strategically focus on consolidating its leading position as a supplier of wiring systems for the automotive industry. Against this backdrop, Leoni has already sold two units of the WCS division (Leoni Schweiz AG and the data communication and compound divisions of Leoni Kerpen GmbH) in recent months.
BizLink is an international provider of high-quality solutions for cable connections and connectivity services. BizLink’s acquisition of LEONI’s Industrial Solutions will expand its market presence, especially in Europe, and there is a clear perspective for future development and growth. The sale includes around 20 international locations of the Leoni Industrial Solutions business in ten countries with around 3,000 employees. The activities of these locations among others include the areas of healthcare, robotics, and automation.
The sold activities generated sales of approximately € 430 million in fiscal year 2020 and are valued with an enterprise value of around € 450 million