Warton bought out the manufacturer of explosion-proof equipment
[ad_1]
TPK Varton bought the trade and production complex of the Gagarin Lighting Plant (GSTZ) group, which specializes in the development and production of explosion-proof lighting equipment and lighting technology for transport infrastructure. The stated value of the transaction was 100–300 million rubles, but market participants value the asset cheaper due to losses. Experts believe that the main motivation for purchasing capacity was the opportunity to participate in state defense orders.
TPK Varton LLC (one of the largest lighting equipment manufacturers in the Russian Federation) told Kommersant that the company acquired GSTZ LLC and its co-owner Industry LLC. GSTZ produces explosion-proof lighting equipment and lighting equipment for transport and transport infrastructure. TPK did not disclose the exact amount of the transaction, citing only a range of 100–300 million rubles. “The purchase will allow us to enter new market segments and increase production capacity, as well as expand the company’s product portfolio,” explained Sergei Mordavchenkov, executive director of TPK Varton. According to him, it is planned not only to preserve, but also to increase the number of jobs.
According to SPARK-Interfax, LLC TPK “Warton” 80% belongs to Svetlana Novoseltseva, 20% to the general director and co-owner of Astra Group of Companies Ilya Sivtsev (until 2021, 80% belonged to the co-owner of Astra Group of Companies Denis Frolov). At the end of 2021, TPK’s revenue amounted to 6.9 billion rubles, net profit – 258 million rubles. There is no more recent data.
Production GSTZ located in Gagarin, Smolensk region, its area exceeds 20 thousand square meters. m, the staff is more than 200 people. GSTZ produces, for example, LED explosion-proof lamps, emergency lighting lamps, an illuminated emergency exit sign, etc. Before the deal with Varton, 93.16% of GSTZ belonged to the general director of LLC Alexander Lagutin, 6.84% belonged to LLC Industry (they also owned by Mr. Lagutin). Now 100% belongs to TPK Warton. The revenue of GSTZ in 2022 amounted to 155 million rubles, with a loss of 26 million rubles. Industry’s revenue is 50 million rubles, with a loss of 700 thousand rubles.
At the beginning of the year, the government proposed introducing an experiment on labeling LEDs to combat counterfeiting, as well as introducing a recycling fee on foreign products, the funds from which were planned to be used to support Russian manufacturers of equipment and components (see Kommersant on February 27). At the beginning of summer, manufacturers asked the Ministry of Industry and Trade to strengthen control over the purchase of LEDs by the public sector (see Kommersant, June 13). In September, lighting equipment manufacturer GS Group proposed increasing import duties on foreign products by 400% (see Kommersant, September 2).
According to Sergei Borovkov, general director of Lighting Business Consulting, 60.8 million lamps were produced in the Russian Federation in the first half of the year, which is 33% less year-on-year. Lamp production increased by 20% year-on-year, to 13.9 million units in the first half of the year. According to his estimates, the explosion-proof lighting segment occupies no more than 3.1% of the market.
According to the director of government relations at MSK BL Group (manufacturer of LEDs and lighting devices) Evgeniy Dolin, the market value of GSTZ and Industry can be estimated at 200 million rubles, but the transaction amount is unlikely to exceed 100 million rubles. “All large companies have already acquired assets or competencies in explosion protection, so such a purchase of Warton is expected and indicates the high margins of the segment on the one hand and the need to consolidate and integrate industrial lighting supplies, on the other,” he believes. Mr. Dolin noted that the lighting niche for transport is more complex in production terms, but important for infrastructure development.
Both assets were in a “shaky financial position,” which could reduce their value, says Olga Grekova, general director of the Association of Manufacturers of LEDs and LED-Based Systems. According to her, the purpose of the deal could be Warton’s desire to participate in government procurement for the production and sale of explosion-proof lamps within the framework of the state defense order: “Among other things, explosion-proof lamps can be installed on aviation and other military equipment and used in hazardous industries.”
[ad_2]
Source link
