GRENKE AG: GRENKE strengthens its market position in medical technology
GRENKE strengthens its market position in medical technology
* Acquisition of Europa Leasing GmbH significantly expands medical equipment leasing business * Acquired business has high growth potential across Europe * Ideal match due to similar leasing business structures
Baden-Baden, December 06, 2016 GRENKE AG has today released an ad hoc announcement stating it has acquired all interests in Europa Leasing GmbH ("Europa Leasing"). The company is specialised in lease financing for medical equipment. It possesses extensive sales expertise and know-how for its target markets of Germany, Austria and Switzerland and has built a strong market position. In the 2015 fiscal year, Europa Leasing GmbH generated new business of roughly EUR 30 million. A similar amount of new business is expected to be generated for the year 2016. The GRENKE AG Board of Directors expects Europa Leasing to achieve solid contribution margins and positive earnings contributions already in its first year within the Consolidated Group.
Due to the companies' similar leasing business structures, the acquisition of Europa Leasing presents GRENKE an ideal opportunity to access the underpenetrated field of medical technology. Europa Leasing, for example, also offers lease contracts in the small ticket area starting at an acquisition value of EUR 1,000, averaging at approximately EUR 21,500. The company's more than 4,000 target customers are mainly physicians and hospitals that tend to have low loss rates and very good creditworthiness. Dental and medical devices are the clear focus of the equipment financed.
"Through the acquisition by GRENKE, Europa Leasing has opened up significant growth potential for its leasing business. Substantial economies of scale can be achieved, particularly in light of GRENKE's relative advantages in terms of speed, automation potential, internationality, availability of comprehensive refinancing alternatives and risk bearing capacity. At the same time the acquisition ensures the continuity of the operations. Europa Leasing's operating business will continue to be headquartered in Kieselbronn near Pforzheim and the existing Managing Directors Nadine Wagner and Dominik Bahner will continue to lead the company," explained Sebastian Hirsch, project manager and general representative of GRENKE AG, in his comments on the acquisition. In doing so, we ensure that we retain the expertise within the company as well as the established relationships which Europa Leasing GmbH enjoys in its industry. Managing Director Günter Schwarz, the founder and previous sole owner of Europa Leasing GmbH, will leave the company at his own request.
"This acquisition is a perfect fit! All aspects harmonise quite well: The market expertise of Europa Leasing in medical technology is a perfect complement to GRENKE's highly scalable business model. This opens up a highly attractive growth market for us on a European scale", commented Wolfgang Grenke, Chairman of the Board of Directors of GRENKE AG.
Günter Schwarz regards the sale of his company to GRENKE AG as a win-win situation. "The new environment at the GRENKE Consolidated Group is ideal for the team of employees at Europa Leasing GmbH. The entrepreneurial spirit and clear growth orientation of both companies are a perfect fit. I wish all of my former colleagues and staff the best of success for the future!"
For further information, please contact: GRENKE AG Corporate Communications / Investor Relations Neuer Markt 2 76532 Baden-Baden Phone: +49 7221 5007-204 Email: firstname.lastname@example.org Internet: http://www.grenke.de
The GRENKE Group
The GRENKE Group is a broadly diversified provider of IT-based services in Small-Ticket-IT-Leasing, Factoring and Banking for small and medium-sized companies. In addition, the GRENKE Bank offers its classic online services also to private customers.
The GRENKE Group is independent of vendors and banks and holds a leading market position in Europe in the field of small-ticket IT leasing for products such as PCs, notebooks, copiers, printers, or software of relatively low asset value. The GRENKE Group operates in 30 countries and employs more than 1,100 staff.
GRENKE AG is listed in the Prime Standard of the Frankfurt Stock Exchange and is included in the SDAX. GRENKE AG shares are listed on the Frankfurt Stock Exchange under the code GLJ, ISIN DE000A161N30.
Information on the GRENKE Group and its products is available at http://www.grenke.de
06.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language: English Company: GRENKE AG Neuer Markt 2 76532 Baden-Baden Germany Phone: +49 (0)7221 50 07-204 Fax: +49 (0)7221 50 07-4218 E-mail: email@example.com Internet: www.grenke.de ISIN: DE000A161N30 WKN: A161N3 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service