Dometic acquires Büttner Elektronik GmbH
On July 2, 2021, Dometic acquired Büttner Elektronik – a Germany-based provider of mobile power solutions for the outdoor market.
SUMMARY
- The acquisition of Büttner Elektronik strengthens Dometic’s offering of mobile power products, including solar power solutions, for the European outdoor market.
- Büttner Elektronik’s 2020 net sales were approximately EUR 13 million with a good operating margin. Approximately 75% of net sales is in Service and Aftermarket.
- The transaction is effective from today and is expected to be accretive to Dometic’s EPS from start.
DESCRIPTION OF Büttner Elektronik
Büttner Elektronik is a Germany-based provider of high-end mobile power products, including solar power solutions, batteries and battery chargers. Büttner Elektronik serves several vertical end markets in the outdoor space. The products are primarily sold in Germany and approximately 75% of net sales is in Service and Aftermarket.
2020 net sales were approximately EUR 13 million with a good operating margin and strong organic sales growth. The company is privately owned, has 17 employees and is headquartered in Neuenkirchen, Germany.
BACKGROUND AND REASONS FOR THE TRANSACTION
Expansion in the fast-growing market for mobile power solutions is a strategic priority for Dometic. The market demand for sustainable and effective off-grid mobile power solutions is rapidly increasing as more and more people spend time outdoors using a vehicle or boat as the base. The acquisition of Büttner Elektronik broadens Dometic’s offering and distribution network of mobile power solutions for the European outdoor market.
"I am pleased to welcome Büttner Elektronik and its employees to Dometic. With Büttner Elektronik we are strengthening our product offering and distribution network in the fast-growing area of mobile power solutions for the Outdoor lifestyle. Our strategy for profitable expansion in Mobile Living is built on a combination of organic and acquisitive growth. This is our sixth announced acquisition this year and our pipeline of potential future acquisitions remains strong." says Juan Vargues, President and CEO of Dometic.
The acquisition is fully financed via cash on hand and is expected to be accretive to Dometic’s EPS from start. The transaction price is not material in relation to Dometic’s market capitalization and is not disclosed. The transaction is structured as a simultaneous sign and close and is effective from today. Büttner Elektronik will be reported as part of segment EMEA.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Rikard Tunedal, Head of Investor Relations
Phone: +46 73 056 97 35
Email: rikard.tunedal@dometic.com
ABOUT DOMETIC
Dometic is a global market leader in branded solutions for mobile living in the areas of Food & Beverage, Climate, Power & Control and Other Applications. Dometic operates in the Americas, EMEA and Asia Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. Our motivation is to create smart and reliable products with outstanding design. We sell our products in approximately 100 countries and we have a global distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500 people worldwide, had net sales of more than SEK 16.2 billion (USD 1.8 billion) in 2020 and is headquartered in Stockholm, Sweden.
For more information on Dometic, please visit: http://www.dometic.com.