Cicor Technologies Expands into Spain with Acquisition of MADES

Cicor Technologies Ltd, a prominent name in electronic solutions, has announced its strategic move to acquire 100% of the Spanish company Malaga Aerospace, Defense & Electronics Systems S.A.U. (MADES). Scheduled to finalize in the latter half of 2025, this acquisition marks Cicor's expansion into the Spanish market, enhancing its leadership within the European aerospace and defense sectors.

MADES, located in Málaga, employs 100 professionals and reported revenues of about EUR 29 million in 2024. Predominantly serving the aerospace and defense industry, it also caters to the industrial and railway sectors. This move is expected to bolster Cicor’s mission-critical applications and customer base.

The acquisition aligns with Cicor's goal to fortify its pan-European platform for electronics design and manufacturing, leveraging existing credit lines for financing. Completion awaits necessary regulatory approvals.