Bremen, February 7, 2019: Zech Group GmbH acquires 74.9 percent of the majority shares in Starkstromanlagenbau Freiberg GmbH (SAF) and in the Chemnitz-based subsidiary ELWA Starkstromanlagenbau GmbH (ELWA). Bernhard Wagner, seller and managing director of SAF and ELWA, will retain 25.1 percent. All 102 employees will be retained.
SAF and ELWA are two traditional companies based in Freiberg and Chemnitz, which together have a history of almost 140 years. SAF implements electrical systems for high and low voltages and covers all areas of electrical installation. ELWA also realises complete electrical systems from project planning to complete delivery and installation for industry and commerce. In particular, they specialise in hospitals, clinics and other medical facilities.
With this investment, the Zech Group strengthens its competencies and resources in Germany and in the greater Dresden area as well as Chemnitz in electrical plant construction. The aim is to further expand the depth of services together with ROM Technik, which is active throughout Germany and already has a long-standing business relationship with ELWA.
"The aim was to find a suitable partner in terms of a successor arrangement, with whom my companies could be run properly and the employees had a secure and positive perspective. With the Zech Group as majority shareholder, we have found such a partner and set the best possible course for the future of the company and our employees", enthuses Bernhard Wagner.
The parties have agreed not to disclose the transaction volume.