PRODUCTEERS and ELECTROSTAR/starmix merge
Swabian cult company drives growth.
06. December 2021
PRODUCTEERS, an internationally active specialist in the development and manufacture of products for the cleaning industry, is merging with ELECTROSTAR/starmix. After the two companies already entered into a strategic partnership last year, the merger now follows under the ELECTROSTAR umbrella. The turnover of the traditional Swabian company thus grows to over 60 million euros. In addition, ELECTROSTAR/starmix secures a production site in China through the transaction and massively expands its research and development (R&D).
"The transaction opens up new growth prospects for us and, most importantly, more speed through short development cycles and a wider range of innovative products and development services for the professional cleaning market," says Roman Gorovoy, CEO of ELECTROSTAR/starmix. "Thanks to PRODUCTEERS' strength and expertise in product development, the integration will allow us to even better meet the demand for high-volume product series as well as high-end products or smaller quantities." As a result, ELECTROSTAR/starmix is targeting strong growth and sales of more than 100 million euros by 2025.
"The merger gives us the opportunity to offer our customers a broader range of technologies and, at the same time, European production. In addition, the new set-up allows us to go to market on a larger scale with a broader product portfolio, more patents, stronger innovation as well as financial stability and long-term continuity," say Anne Mette Solvang and Holger Krogsgaard, owners of PRODUCTEERS.
The transaction is the biggest change in the 100-year history of ELECTROSTAR/starmix and at the same time a fundamental part of the company's strategy, which focuses on profitable growth, best-in-class products, optimization of value creation and internal processes (operational excellence), as well as a healthy, transparent and agile corporate culture with a focus on customers.
As part of the merger with PRODUCTEERS through ELECTROSTAR/starmix, PRODUCTEERS Holding, led by Anne Mette Solvang and Holger Krogsgaard, will take a 25 percent stake in ELECTROSTAR GmbH, which is part of the Algo Group. Anne Mette Solvang and Holger Krogsgaard will continue to manage PRODUCTEERS, while Roman Gorovoy will be responsible for the entire company as Managing Director.
starmix - a piece of German industrial history that is being continued with great success in the 21st century. The industrious Swabians have been manufacturing vacuum cleaners since 1921 and invented the hot-air hand dryer four years later. In the years of the economic miracle, starmix achieved world renown: the universal starmix kitchen machine became a bestseller that no good household could do without. Today, ELECTROSTAR GmbH, which has been part of the Algo Group since 2007, stands for innovative technologies, outstanding quality and uncompromising customer orientation. Under the starmix brand, the company develops, produces and sells a wide range of powerful vacuum cleaners for trade, commerce and industry worldwide. From the starmix sanitary business field, modern warm air and high-speed hand and hair dryers as well as an extensive hospitality product range complete the portfolio. Since the acquisition of Haaga Kehrsysteme GmbH in 2012, innovative sweepers have also been part of the product range. In 2020, ELECTROSTAR/starmix and Haaga Kehrsysteme merged. The company employs around 200 people at its sites in Ebersbach. The two brands starmix and Haaga generated a turnover of around 41 million euros in 2020.
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