The Eti Elektroelement Has a New Owner and Ambitious Development Plans
The Eti Elektroelement and the Andlinger & Company signed an agreement on selling the controlling interest. Each Eti Elektroelement share will cost 55 euros, and the whole transaction price will be almost 27.5 million euros.
To sell the controlling interest, the Eti Elektroelement created the largest consortium in the history of Slovenia. It combined 950 shareholders holding 76% of all shares with voting rights.
The process of selling the controlling interest was launched almost two years ago, when at the general meeting, the overwhelming majority of the Eti Elektroelement shareholders voted in favour of finding a new owner and of the long-term company development projects.
“Over the past few months, we have learnt well the Eti Elektroelement Company. This is one of the most advanced industrial companies in Slovenia with extremely talented management and professional staff. Eti has a good reputation and a leading position in its market segment in many countries of the Western and Eastern Europe. We see a significant potential for further growth in the North and South America and Asia,” the Andlinger & Company representative Ernst Reichmayr said when signing the agreement.
Ernst Rayhmayr is convinced that until 2020 they will be able to increase the Company’s income by more than 30%, which is up to 140 million euros. The revenue growth will allow the Company to increase the number of personnel.
Who is the Buyer?
The Andlinger & Company, which was founded in 1976 by the US citizen of Austrian origin Gerhard Andlinger. The Andlinger & Company brings together a group of entrepreneurs who invest in stable industrial companies with high growth potential.