Merger of GPV and Enics is Completed
GPV and Enics create strong international electronics group with 7,500 employees
The merger of GPV, Denmark’s largest electronics manufacturer, and Swiss-headquartered Enics was completed on 3 October 2022.
The two companies will now merge into one new company with more than 7,500 employees and revenue of more than DKK 7 billion. Danish industrial conglomerate Schouw & Co. will have majority control (80%) and the Finnish family-owned investment company Ahlström Capital Group will be minority shareholder (20%).
The merger between two strong EMS companies, GPV and Enics, is now a reality. The two companies complement each other very well in a wide range of areas. Together, the merged company is focused on electronics manufacturing with a strong and recognised operational setup, well-developed design & engineering capabilities, and business within test systems, comprised with in-house mechanics and cableharness manufacturing. The merged company has a strong focus on industrial electronics, box-build / mechatronics / turnkey products.
The name of the merged company will be GPV Group A/S, and Bo Lybæk will head the industrial group as CEO. Elke Eckstein will step down as CEO for Enics and be available as Integration Advisor to the CEO until the end of January 2023.
“GPV and Enics are a very strong match, and I am pleased that the merger is now a reality. I believe that our combined strengths will make us an attractive partner to our customers in a fast-changing marketplace. We look forward to implementing the merger plan we have developed together with our new colleagues from Enics, and we execute with humbleness. We know that the merger will be a big task, but we expect it to be a great success. I thank Elke for the trust she has placed in me by passing on the baton for Enics, and I look forward to meeting and bringing together all the many dedicated people in the new merged company,” says Bo Lybæk, CEO of GPV.
Since the agreement was signed on 22 June 2022, GPV and Enics have planned the integration between the two companies, and the many discussions at management level have confirmed that the future looks bright for the new company. “Enics and GPV are merging into a new company that has the best service offering in the EMS market, following the strategic growth path of both companies. This is an achievement that is based on the continuous hard work and service and electronics knowhow of our people – this work now pays off as the best possible outcome: With this merger, we’re building the future for our people and the entire EMS industry. We have reached the best possible scenario for both Enics and GPV, and I am convinced that success will crown this new company. Therefore, I am happy to pass on the leadership to Bo,” says Enics’ CEO Elke Eckstein.
The new company has a total of 7,500 employees and 19 factories worldwide located Denmark, Switzerland, Finland, Slovakia, Estonia, Sweden, Austria, Germany, Thailand, China, Sri Lanka, Malaysia, and Mexico. Both companies bring high demands and full order books into the merger, and the merged company has strong growth ambitions for the coming years. “We aim to grow our sales to about DKK 10 billion by 2026, but we also recognise the challenging business environment which could shortly be the reality. We are now embarking on an exciting growth journey and, very importantly, we aim for it to be a profitable growth journey. After the merger, we will be even stronger, and this supports our expectations for the future,” says Bo Lybæk.
GPV’s first public appearance as one new company will be at the world’s leading electronics trade fair Electronica in Munich, Germany on 15-18 November 2022, where customers and business partners will be able to hear more about the new joint company and the benefits to the market.