The ebm-papst Group has acquired a majority shareholding in Spanish electronics specialist IKOR for an undisclosed sum, effective from 1 January 2016.
The move boosts ebm-papst’s competence in the field of developing and manufacturing electronics and strengthens its market position in North America and China, among other countries.
ebm-papst, a leader in fans and motors, has headquarters are in Mulfingen (Baden-Wurttemberg) and a UK office in Chelmsford.
With headquarters in San Sebastian, Spain, turnover of €60m and 600 staff, IKOR has an R&D centre, plus three modern production sites in China, Mexico and Spain. Established in 1981, the company’s focus is the development and production of customised electronics with extensive knowledge in controls and controllers for industrial applications.
Chairman of the ebm-papst group, Rainer Hundsdörfer, said: “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”.
IKOR chairman, Miguel Angel Sierra, said: “Under the ebm-papst umbrella, we shall be expanding and increasing our technological leadership even further. The access to the global market that comes with it opens up new opportunities to enhance our growth plans.”
Prior to the transaction, the two companies already enjoyed a successful co-operation.