Kekst CNC represents Germany’s Schmid Group as the maker of capital equipment and software for the high-end electronics sector goes public via a SPAC merger with Pegasus Digital Mobility Acquisition Corp. that is valued in the $640M range.
Founded 160 years ago, Schmid is a fifth-generation owned and managed company.
The Schmid family will retain majority ownership and management positions following the fourth quarter completion of the merger.
Christian Schmid, chairman & CEO, called the company “a pioneer in the technology industry with differentiated leadership positions serving a diverse range of high-growth verticals.”
Becoming a NYSE-listed company will further Schmid Group’s standing as a “sought-after global solutions provider,” he said.
Kekst CNC has Daniel Yunger, Knut Engelman, Daniel Hoadley and Franziska Wissig working the Schmid Group merger.
Publicis Groupe owns Kekst CNC.