• Shareholder in his mid-fifties
• No successor
• MBI-prospects lacked capital

Company situation

• Strong growth with a good return
• Stable customer relationships
• Quality leader

Market/competition

• Electronic industry with a good future perspective
• No competition from low-income countries

Solution for the succession situation

• Stemas takes over 85%
• Implementation of a non-company manager
• Shareholder retires step-by-step over a period of 3 years

Financing

• Base purchase price when takeover was done
• Earn-out over 5 years
• Profit participation capital of private investors (Mezzanine)
• Healthy debt capital leverage

Good future prospects

• Reinforcement of the quality leadership

Sustainable growth by keeping returns