TA Associates in quick Cmosis exit

AMS, an Austrian sensor and measurement products manufacturer, wholly acquired the business. The acquisition was funded solely through existing cash and available credit lines, with no additional transaction-based financing. The deal is expected to close before year-end.

Management also exited the business alongside TA. The GP had bought its majority stake in Cmosis less than two years ago – the December 2013 deal saw previous backers PMV, Capital-E and ING Group exit the company.

Cmosis reported a €40m turnover at the time of the 2013 deal; the figure has now risen to €60m, with a similar growth forecast expected for the next financial year.

Company
Cmosis was established with the help of Capital-E in November 2007. The venture capital firm and the company's founders – Tim Baeyens, Jan Bogaerts, Lou Hermans, Gérald Lepage and Guy Meynants – injected €1.175m into the company to get it off the ground.

Cmosis is headquartered in Antwerp and employs 110 staff. The company designs, manufactures and tests standard and custom complementary metal-oxide-semiconductor (CMOS) image sensors for a range of applications in markets including machine vision, medical, broadcast and traffic monitoring, as well as scientific and photographic imaging. In addition, Cmosis has developed a miniature camera module line for endoscopy-like medical applications.

In addition to its Belgian footprint, the company is also present in Germany, Portugal and the US.

People
Luc de Mey is CEO of Cmosis.

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