April 20 (SeeNews) - EMI, a Romania-based company specialising in integrated solutions and services for industrial access, on Wednesday announced the acquisition of Belgian industrial steel door manufacturer Decran, in a bid to increase cross-selling between Romania and Belgium and achieve 22 million euro (23.85 million) revenues in 2022.
The price of the deal was not disclosed.
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"With this transaction, we are taking another step in achieving the long-term goal of becoming the go-to one-stop-shop for total industrial solutions and complex technical projects in Romania and Europe. [...] Today, with the acquisition of Decran, we are entering the Flemish region, and, as a result, our industrial access solutions and services will cover the entire Belgian territory,” said Jerome France, founder and CEO of EMI, as quoted in a company press release.
Decran will continue operating in Belgium under its own brand, while founder Lode Decraene will remain involved in the company’s day to day operations.
Founded in 1996, Decran is specialised in the production and installation of industrial steer doors, for indoor and outdoor use. Decran’s manufacturing base is in Slovakia, after which the company’s products are shipped primarily to the Flemish region of Belgium. The company has a total staff of 37, 20 of whom are based in Belgium, while the rest operate the Slovakian manufacturing centre. Decran’s client portfolio includes Cordeel, Willy Naessens, as well as other industrial builders.
Decran recorded a turnover of 5.4 million euro in 2021, the press release added.
Established in 2000, EMI operates a 80-employee factory in Cateasca, Pitesti county, where it develops tailored technical solutions for specific client needs. The company specialises in integrated consulting, maintenance and service solutions for industrial access.
Last month, EMI said it bought a 70% stake in Access Systems, a Belgian company providing industrial access services, for an undisclosed amount.
Last year, EMI announced the entry into Morphosis Capital’s private equity fund, which, together with the fund’s investors, acquired a 15% stake in the company for 15 million euro.
EMI’s revenues in 2021 totalled 4 million euro, a 23% increase over 2020, the company said.
(1 euro = 4.94 Romanian lei)