Fortaco Group Holdco Oyj Sells Business Site Gruza in Serbia
Fortaco Group Holdco Oyj’s subsidiary, Fortaco Oy, has signed an agreement to sell its marine and energy-focused Business Site Gruza in Serbia to Entec Evotec AS. Evotec, a Norwegian technology company, specializes in providing winches, booms, spooling devices, and cranes with an innovative control system.
Transaction Details
- Business Site Gruza was evaluated strategically for marine, energy, and heavy project businesses from February to November 2024.
- In 2024, Business Site Gruza reported net sales of approximately EUR 5.4 million and recurring EBITDA of around EUR 120,000.
- The site currently employs about 95 individuals.
Statements from Key Figures
- Mika Mahlberg, President & CEO of Fortaco Group: Thanks customers for their trust, welcomes the acquisition by Evotec.
- Jogeir Romestrand, CEO of Evotec: Expresses excitement for the acquisition and cooperation with Gruza team.
- Ivona Poletan, Managing Director of Business Site Gruza: Looks forward to the joint business expansion with Evotec.
Future Outlook
- The transaction does not affect Fortaco’s profit forecast for 2025.
- Closing conditions are being finalized, with aim to close the deal in June 2025.
About Fortaco Group and Evotec
- Fortaco Group: Leading full-solution provider for OEMs in off-highway equipment industries, with operations in Europe and Asia focusing on green technology.
- Evotec: Norwegian supplier of advanced handling systems for maritime and industrial sectors, emphasizing sustainability and tailored solutions.
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