ebm-papst launch takeover of IKOR
SPAIN – The ebm-papst Group, a market leader in fans and motors, have announced that they have acquired a majority shareholding in the Spanish electronics specialist IKOR on the 1st of January 2016. The German-based group hopes that this acquisition will boost its competence in the field of developing and manufacturing electronics. The group also expects that the acquisition will strengthen its market position in North America and China.
IKOR, whose headquarters are located in San Sebastian and who report a €60 million turnover for 600 staff, have an R&D centre as well as three modern production sites in China, Mexico and Spain. The focus of the company, which was founded in 1981, is on the development and production of customized electronics with extensive knowledge in controls and controllers for industrial applications.
Commenting on the acquisition, Rainer Hundsdörfer, chairman of the ebm-papst Group management stated that “For us as system supplier, acquiring the electronics specialist IKOR means that our technology expertise and know-how is enhanced and boosted even further. The additional production capacities especially in China and Mexico lead us to expect new market potential and thus further growth”.
The IKOR chairman, Miguel Angel Sierra, also expressed his satisfaction at the deal, declaring “Under the ebm-papst umbrella, we shall be expanding and increasing our technological leadership even further. The access to the global market coming with it opens up new opportunities to enhance our growth plans.”
Prior to the transaction, the two companies had already previously successfully co-operated and both companies agreed not to reveal the purchase price.