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The German EbmPapst Group, specialising in fans and motors, has acquired the Basque group Ikor, an electronics specialist with plants in the Basque Country, Mexico and China.
According to the EbmPapst Group, the aim of this operation is to boost its competence in developing and manufacturing electronic devices and also to strengthen its market position in North America and China.
The Ikor group, with headquarters in San Sebastian, has three production plants (two of which are abroad: China and Mexico), an R&D centre, turnover of 60 million euros and a total workforce of 600 people. It specialises in the development and production of customized electronics and has extensive knowledge in controls and controllers for industrial applications. Moreover, the Basque Government Venture Capital Management Company (Sociedad Gestión de Capital Riesgo) is among its shareholders.
Rainer Hundsdörfer, Chairman of the Board of Directors of the EbmPapst Group, states that the acquisition of Ikor “leads us to expect new market potential and thus further growth. On his part, Ikor Chairman Miguel Ángel Sierra also highlights how new opportunities for business improvement open up “under the EbmPapst umbrella”.