- Acquisition secures complementary testing expertise and improved market access for Schleuniger Group in the important North American market for testing and test automation of cables and harnesses
- Investment by Schleuniger in key growth segment and in further improved value-chain coverage
- Another important step in Schleuniger’s strategy to become a strategic system partner for its global customer base
- Enables more rapid expansion of Cirris as part of the global Schleuniger Group
After many years of cooperation, the Schleuniger Group and Cirris Systems Corp. have signed an agreement for Schleuniger to acquire Cirris, based in Salt Lake City, Utah, on the basis of an asset deal. The transaction is expected to be concluded in the third quarter of 2020 and the new company Cirris Inc. will take over most of the assets of Cirris Systems Corp. “With the acquisition of Cirris, Schleuniger is further extending its market lead in testing of cables, harnesses and connectors. Together with adaptronic Prüfsysteme and Schleuniger Test Automation, both located in Germany, we have now fully realized our strategic main direction of “Best in Test” and our ambition to be the global number one in technology, application and industry coverage.” says Christoph Schüpbach, CEO of the Schleuniger Group.
The purchase of Cirris represents an important investment in a key growth segment for Schleuniger, further expanding the group’s broad testing portfolio following the January 2018 acquisition of a controlling majority stake in testing equipment manufacturer adaptronic Prüftechnik GmbH of Wertheim, Germany, as well as the May 2015 purchase of test automation solutions provider Cirris Solutions GmbH (now Schleuniger Test Automation GmbH) of Jettingen, Germany. Cirris Systems complements the product portfolios and global market coverage of adaptronic and Schleuniger Test Automation exceptionally well and opens up the North American market for testing and test automation. It also reduces Schleuniger’s dependency on the automotive industry as Cirris generates the vast majority of its sales outside this industry.
In only five years, Schleuniger has built its testing business from the ground up to become a single-source supplier for all low- and high-voltage testing needs, from simple-to-use to highly configurable high-end testers and from standalone benchtop testers to partially or fully automated testing systems for virtually all applications in any industry. “We are excited to become a part of the Schleuniger Group after many years of sales and technology cooperation. Our product and service offerings complement the already extensive testing portfolio of the Schleuniger Group, and this acquisition offers us the chance to expand even more rapidly as part of the global Schleuniger organization. And no less important for a successful future together: We also see a great fit between our corporate cultures and values, and we look forward to joining the Schleuniger family”, says Craig Taylor, President & CEO of Cirris Systems, who will remain in his current position at the new Cirris Inc.
About Cirris Systems
Founded with a single testing product in 1984, Cirris has grown to become a leader in the development and production of wire and harness test equipment, including testers, adapters, software, accessories and custom products. Our reach has extended beyond the headquarters in Salt Lake City, Utah, to representatives and distributors in over 20 countries. We have placed testers in the hands of thousands of customers on all seven continents. As an ESOP (Employee Stock Ownership Plan) company, employees at Cirris share responsibilities and benefits, thereby increasing workplace efficiency and satisfaction. Every employee owner at Cirris focuses on promoting quality products and providing a gratifying customer experience.
The Schleuniger Group in Thun is a globally active technology company and a leading supplier to the wire processing industry. With its wholly owned and independently managed company, DiIT, Schleuniger is also a leading player in digitalization and industrial IoT. Most of the Schleuniger Group's customers are suppliers to the automotive, entertainment and information industries, as well as to the communications sector. Schleuniger’s products are used wherever precise connections and highest productivity are required. The company has development and production locations in Switzerland, Germany and China. With a network of sales and service companies in North America, Europe and Asia and more than 40 distribution partners worldwide, Schleuniger is always close to its customers.
The Schleuniger Group represents the wire processing business segment of the publicly listed Metall Zug Gruppe and has approximately 1000 employees and 40 apprentices worldwide.
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Cirris Systems Corp.
401 North 5600 West, Salt Lake City, UT 84116 (USA)
Tel. +1 801 973 4600