SEM

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SEM is a world leading low-to-mid volume manufacturer of high precision products based on electromagnetic coil applications. The Company is global quality leader for electronic ignition systems and one of two independent manufacturers in the world of ultra high pressure diesel injector stators.

SEM’s supplies a blue-chip OEM customer base including world leading engine manufacturers and vehicle makers. The company operates two production sites in Sweden and China with a total staff of ca. 220.

SEM was acquired by Perusa from the Swedish Opcon-Group in 2012 in a corporate carve-out transaction. The business was sold to the Swedish private equity investor Procuritas in 2016.

Value creation agenda:

• Expansion of IP/patent portfolio: Acquisition of Senfusion AB in order to strategically complement SEM’s patent portfolio

• Lean-approach: Efficiency improvement program in China and Sweden to improve the margin and optimise processes

• Expansion in China: Transformation of the Chinese facility from a pure production site to a fully operational entity for the Chinese / Asian market including the build-up of a local sales team and R&D capabilities

Results:

During Perusa’s holding period, XINDAO’s revenues grew by c. 30% to roughly EUR 40m and the EBITDA, yielding a margin of more than 20%, doubled.