German industrial group invests in Donostia Ikor
The German group EBM-papstone of the world's leading manufacturers of motors and fans, has acquired a 50% from the Donostia-based company Ikor, which specialises in the development and production of customised electronic products, with extensive knowledge of controls and controllers for industrial applications.
The firms had already been collaborating on different projects for 18 months and now the German firm has decided to take the plunge and buy the Basque firm, seeing the potential of its R&D in the development of the fans it manufactures.
As a result of this knowledge, Ikor is already developing EBM fans with integrated control and regulation systems and displays that are essential in the operation of refrigerator motors.
The general manager of the Ikor Group, Jon Sierra, declared yesterday that the purchase of Ikor "not only does not mean that we are going to lose our personality as a company, but that our R&D centre in Donostia will be strengthened with people from here for the development of new product lines complementary to those manufactured by the EBM group".
Portobello Capital acquires Laulagun Bearings for international expansion
Portobello Capital has acquired a majority stake in the Basque company Laulagun BearingsLaulagun Bearings, specialising in the production of industrial bearings to support its international growth and production diversification. Laulagun Bearings is among the leaders in its sector at European level and stands out for its high-tech production, which is mainly aimed at the wind power sector.
Laulagun Bearings, which exports 80% of its production, has two production centres in the Basque Country, in the towns of Olaberria and Idiazabal (Gipuzkoa), with a workforce of 120 people and closed the 2015 financial year with a turnover of more than €45M.
The distinguishing feature of Laulagun Bearings is its high level of technology. Laulagun's products have been developed in conjunction with the technology centre IK4 Ikerlan for the remote self-diagnosis of bearings, which allows to know their condition and predict when they will suffer wear, thus avoiding displacements and reducing operation and maintenance costs for offshore wind farms, etc.
Juan Luis Ramírez, partner at Portobello Capital, points out that 'we had been looking for years to find an industrial company with high growth and international projection. With Laulagun Bearings we have beaten our best expectations'. Jorge Damián, managing director of Laulagun bearings, comments that 'a new exciting stage is opening' that will take us through 'a phase of growth and the search for excellence, with the aim of becoming a worldwide benchmark in our range of products.
The HAZITEK grants have been launched, endowed with 68M, which replaces the previous Etorgai, Gaitek and NET programmes, and includes two lines of support aimed at companies. Specifically, the programme is aimed at the development of projects led by industrial companies and has a closing date of 18 March 2016. If you want to know more about these grants, please contact us. Abra-Invest has a team of experts in public funding at your disposal. Call +34 946424142 or fill in the contact form.
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