Cicor Acquires MADES, Boosts A&D Market Presence

The Cicor Group has successfully acquired 100% of MADES S.A.U., a Spanish electronics company based in Málaga, from the Latecoere Group. This acquisition reinforces Cicor's position in the European aerospace and defense (A&D) market. It expands its reach in Spain, unlocking new customer prospects in this sector.

MADES, employing around 100 people, reported sales of EUR 29 million in 2024, focusing predominantly on the A&D market. The acquisition enhances Cicor's mission-critical application offerings and complements existing business operations, with MADES maintaining its high-quality service standards.

Despite recent US tariffs, Cicor's exposure remains minimal, affecting only 0.8% of its revenue. The healthcare sector deliveries to the US are tariff-free under the Nairobi Protocol. Thus, Cicor's 2025 sales forecast remains between CHF 620 and 650 million.