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C-MAC Group Expands European Operations by Acquisition in the UK

July 4 2018

Take-over secures jobs for over 30 employees

Ronse, Belgium – 2 July 2018 – C-MAC ELECTROMAG BVBA (www.cmac.com),a leading specialised
electronics manufacturer to the European Automotive, Aerospace & Industrial markets, today
announced the acquisition of the business and assets of Warwick-based, SMT Developments
Limited (in Administration). C-MAC takes over the business as a going concern from Administrators,
MOORE STEPHENS LLP. C-MAC were advised by commercial law firm, Leeds-based, WALKER
MORRIS LLP. The move will secure the jobs for the 30+ employees of the Company.

Commenting on the move, Ken Henderson, CEO of the C-MAC Group, stated “We recognise the
valuable reputation and relationships that SMT has established with its customers, as a reliable and
trusted Electronics Manufacturing Service provider within the English Midlands. C-MAC will be
investing in the Company to build a secure future for the business and for all our employees as part
of our strategy to build a greater presence in the U.K.” He commented further that the new
Company would be known as C-MAC SMT Limited.

Prof. Olav Noack, CEO of Zobel Values, the Family Office behind C-MAC, stated “We are proud to
see C-MAC thrive in its industry and to have again, a footprint in the U.K., with C-MAC SMT.“

Lee Causer, Partner at MOORE STEPHENS LLP added ‘We are delighted to have concluded a sale of
the business which has resulted in the preservation of jobs for over 30 employees’
‘’In addition, we are expecting the transaction to result in a substantial dividend being made
available to the unsecured creditors.’’
“We wish the employees and the new owners every success for the future”

About C-MAC :
C-MAC develops and manufactures best-in-class electronics solutions for high reliability, demanding,
customer applications. We satisfy our customers by delivering outstanding service performance &
product quality. C-MAC has two manufacturing plants, in Belgium and in Canada.

The Company has over 30 years of history and more than 300 employees in Europe and North

C-MAC is part of a large European Industrial, Automation and Robotics group of mid-size companies,
in total, reaching almost £600m of revenues.

Moore Stephens is the UK’s 9th largest independent accounting and consulting network, comprising
over 2,000 partners and staff in 37 locations.

Moore Stephens LLP is an independent member firm of Moore Stephens International Limited, one
of the world’s major accounting and consulting networks with 614 offices in 112 countries.

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