06.12.2016
GRENKE AG DE000A161N30
DGAP-News: GRENKE AG: GRENKE strengthens its market position in medical technology
DGAP-News: GRENKE AG / Key word(s): Takeover/Expansion
GRENKE AG: GRENKE strengthens its market position in medical technology
06.12.2016 / 14:23
The issuer is solely responsible for the content of this announcement.
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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: [email protected]
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
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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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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 protected]
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
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527137 06.12.2016
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