- Amper’s Board of Directors has approved the acquisition of 49% of the share capital of its subsidiary Elinsa, owned by the Muñiz García family. Amper will therefore become the owner of 100% of the share capital of Elinsa.
- The payment will be made 50% in cash, with a payment schedule over three years, and 50% through the issue of shares at 0.15 euros per share to be subscribed by the sellers (Muñiz García family), which will represent approximately 6.79% of Amper’s share capital, giving them the right to propose a proprietary director.
Madrid, 6th November 2024-. Amper’s Board of Directors has approved the acquisition of a 49% stake in the share capital of its subsidiary Elinsa, which it does not yet control. Consequently, after the initial investment in September 2020, Amper will become the direct owner of 100% of the share capital of this entity.
The purchase price of this stake would be approximately EUR 30.5 million, 50% of which would be paid in cash, in accordance with a three-year payment schedule, and the remaining 50% would be paid through the issue of new Amper shares, to be subscribed by the sellers (the Muñiz García family). The new Amper shares, which would represent approximately 6.79% of the Company’s share capital after this capital increase, would be issued at a price of EUR 0.15 per share (i.e. EUR 0.05 par value and EUR 0.10 share premium). In addition, the sellers would have the right to propose to the General Meeting of the Company the appointment, if appropriate, of a proprietary director.
The transaction is subject to reaching an agreement on the sale and purchase agreement with the sellers and to the approval of the aforementioned increase in Amper’s share capital by the General Shareholders’ Meeting, which would be convened after the signing of the aforementioned agreement.
This purchase operation takes place in the context of the recent signing by Elinsa of a framework contract for the manufacture and supply of power electronics equipment for energy storage during the period 2025-2027, extendable to 2030, with eks Energy, with an estimated value of 155 million euros, which could reach 340 million euros with its extension.
This agreement involves an increase in Elinsa’s manufacturing capacity from 2 GW per year to 4 GW per year, for which construction has already begun on a new factory on land acquired in the Morás industrial estate in Arteixo (La Coruña).
Elinsa is the Amper Group company specialising in power electronics for energy management and storage, electrical installations and complex electrical panels applicable both in civilian environments and on military vessels, and electrical installations and substations for offshore wind power.
The transaction is aligned with the company’s inorganic growth strategy, which establishes this partial share-based payment model that allows the ownership of the invested companies to be incorporated into the common project of the Amper Group, generating a solid and committed industrial base.
With this acquisition, the Amper Group continues to fulfil its Strategic and Transformation Plan for the period 2023-2026, which envisages both organic growth of the company in its two business units – Defence, Security and Communications; and Energy and Sustainability – and inorganic growth through acquisitions of companies that reinforce its strategic capabilities in each business segment.