PRODUCTEERS and ELECTROSTAR/starmix merge
Stuttgart/Ebersbach, December 2, 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, the transaction secures ELECTROSTAR/starmix a production site in China and massively expands the research & development (R&D) division.
With the transaction, ELECTROSTAR/starmix doubles its R&D area and expands its production capacities at the same time. From the new location in Shanghai, China, as well as from the headquarters in Ebersbach, the company will be able to offer customers a much more diversified range of ODM and OEM products in the future. In addition, the merger will give the starmix brand a larger number of competitive products for the cleaning market.
"The transaction opens up new growth prospects for us and, above all, more speed through short development cycles and a broader range of innovative products and development services for the professional cleaning market," says Roman Gorovoy, Managing Director 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 aiming for strong growth and sales of over 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 a 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 an elementary component of the corporate strategy, which focuses on profitable growth, best-in-class products, the optimization of value creation and internal processes (operational excellence) as well as on a healthy, transparent and agile corporate culture with a focus on customers.
As part of the merger with PRODUCTEERS by ELECTROSTAR/starmix, PRODUCTEERS Holding, led by Anne Mette Solvang and Holger Krogsgaard, will acquire a 25 percent stake in ELECTROSTAR GmbH, which belongs to 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.
ELECTROSTAR/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 best-seller 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 business field starmix sanitary, 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 sweeping machines have also been part of the product range. In 2020, ELECTROSTAR/starmix and Haaga Kehrsysteme merged. The company employs about 200 employees at its locations in Ebersbach. With the two brands starmix and Haaga, a turnover of around 41 million euros was generated in 2020.
Producteers was founded in 2009 by the current owners Holger Krogsgaard and Anne Mette Solvang, who have more than 30 years of experience in the cleaning industry. Producteers has, among others, a factory and development facilities in Shanghai. The company develops and manufactures innovative products for the global cleaning industry, which are sold to selected customers and partners mainly under their own brands. The company employs around 80 people and plans to generate sales of approximately €13 million in 2021.
Alale Sarshar Fard
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