Astorg Partners
 
INVESTMENTS
 

Linxens
Linxens
  • Investment date : October 2011
  • Transaction size (Enterprise Value) : >500€m
  • Industry : Manufacturing
  • Activity : Flexible Etched Circuitry for Smart Card Applications
  • Previous Majority Shareholder : Large Corporation
  • Status : In portfolio
  • Fund : Astorg V
Linxens in short
Linxens is the world’s leading manufacturer of connectors for smart cards. Former division of the FCI Group, under the name of FCI Microconnections, Linxens is now a fully independent company.
The company produces flexible etched circuits used in several applications, including SIM cards for mobile phones, banking cards and e-ID cards. Linxens has developed connectors adapted to its customers’ new applications, while steadily widening its product range and reinforcing the reliability and productivity of its production processes. Other products are also being developed such as connectors for medical sensors and connectors for LED bulbs.
Linxens currently employs 700 people throughout the world and operates production facilities in France and Singapore and another site in China.

The Linxens opportunity as seen by Astorg Partners
• A global leader in a specific niche market with sustainable high growth prospects

• Significant barriers to entry based on economies of scale, know-how, product quality and customer intimacy in the smart card industry

•Unique installed production capacity with leading edge, reel-to-reel etching and plating process technology

 Linxens
As the global leader in the manufacture of flexible etched circuits for smart card applications, it was essential for us to find the right partner to accompany MIC’s development plans. Astorg has a strong track record in developing the companies it invests in, while respecting their culture and social vision, and has demonstrated solid expertise in technology companies. With their support, this spin-off will provide Linxens with the right set-up to deploy its ambitious growth strategy.
Christophe Duverne, Chief Executive Officer of Linxens

More information on Linxens
http://www.linxens.com/

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