Incap Corporation, a global leader in electronics manufacturing services, has announced its agreement to acquire Germany-based Lacon Group, marking a significant step in strengthening its presence in the European market, particularly in the defense and high-tech sectors. The transaction is expected to close in the first quarter of 2026, pending regulatory approval.
The addition of Lacon Group — an established electronics manufacturing and design specialist — equips Incap with enhanced capabilities to serve a broad spectrum of industries, particularly defense, medical technology, railway, and electrification. Lacon’s modern manufacturing sites across Germany (Karlsfeld, Glinde, Boxberg) and Romania (Galați), and its team of over 600 employees, will now be integrated into Incap’s international operations.
This acquisition not only expands Incap’s physical footprint in Europe’s largest electronics services market but also brings sophisticated design and development services into its global offering. It positions Incap as a more comprehensive provider throughout the product lifecycle, from design to production and system integration.
The agreement involves the purchase of all Lacon Group shares for a minimum upfront price of EUR 50 million. There is also a potential earn-out of up to EUR 5 million, contingent upon Lacon’s financial performance in 2026. Between January and October 2025, Lacon posted unaudited revenues of EUR 57.2 million and an adjusted EBITDA in the range of EUR 5.3–6.7 million, reflecting robust financial stability.
The ownership transition will see key Lacon executives — including CEO Ralf Hasler and CFO Christian von der Linde — remain with the company, ensuring operational continuity and supporting the integration process.
By integrating Lacon, Incap diversifies its client portfolio and reduces dependency risks while adding scale and expertise to meet the evolving demands of more technologically advanced sectors. The acquisition is particularly noteworthy for bolstering Incap’s position in Germany, Austria, and Switzerland (the DACH region), which is home to some of Europe’s strongest industrial and electronics markets.
Growth synergies are anticipated through greater procurement efficiencies, cross-selling opportunities, and improved capacity utilization across Incap’s network. The companies expect increased competitiveness, particularly in the high-demand defense and industrial sectors, as well as improved resilience amid shifting global market dynamics.
The deal’s closure is scheduled for the first quarter of 2026, subject to regulatory approvals in Germany and Romania. Incap anticipates incremental increases to its revenue for 2026, with a slightly positive impact on operating profits.
Key stakeholders from both companies have expressed optimism that the transaction will create a platform for further innovation, operational growth, and the pursuit of new opportunities in Europe’s dynamic technology and manufacturing landscape.