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schwa-medico to distribute industrial products under TechPowerElectronics brand / Takeover of French electronics company springboard for international growth

Press release

Laubach (Germany)/Courlaoux (France), September 27, 2016: The schwa-medico group will in future distribute its industrial products under the TechPower-Electronics brand. The well-known French electronics company Tech Power Electronics with headquarters in Courlaoux in the Jura region of eastern France joined the schwa-medico group on September 19, 2016. This results in one of the leading international companies with 1.250 people at 8 production plants worldwide for the manufacture of transformers, winding goods, power converters and industrial products for the electronics sector with headquarters in Germany. The previous owner and managing director of Tech Power, Salvatore Gora, will take over the management of the group company and oversee further expansion.

"The merger with Tech Power is a milestone for our further growth. This allows us to enter the top league of European industrial and electronics companies. Tech Power has invested extensively in France in research and development. The whole group will benefit from this. Our combined specialist expertise will enable us to open up new markets and attract new customers for custom-made solutions for transformers, winding goods, inductors and compact power converters (Switchy®)", explains Dr. Roger Pierenkemper, managing director of schwa-medico GmbH.

"With the TechPower-Electronics brand we can create a powerful unit. Our range of products complement each other perfectly. Our companies establish a German/French motor which we can use as a basis for further growth", emphasises Salvatore Gora, Président of Tech Power Electronics. "The schwamedico group is a family-owned company with a long tradition which fits in excellently with us. That represents the best foundation on which we can grow together."

Tech Power Electronics was created by the merger of the French companies TECH39 and BEC which were acquired respectively by Salvatore Gora in 2005 and 2006. The company which is particularly specialised in complex winding goods quickly built up a leading position on the French market with the Tech Power brand and then expanded into international markets. Tech Power Electronics employs 430 people at 3 production plants and is a leading European electronics company. The customers of Tech Power Electronics are mainly in the energy industry and particularly in the renewable energy and nuclear industries as well as companies in the medical engineering industry and railway industry.

The schwa-medico group had only recently further expanded its international position in August 2015 with the takeover of SCHNEEFUSS + ROHDE, an industrial company specialised in the manufacture of inductors and transformers with headquarters in Scharnebeck near Lüneburg and takeover of the international transformer manufacturer Manfred Schmelzer GmbH with headquarters in Teningen near Freiburg in October 2014. Tech Power Electronics had also recently acquired Best Electronique in December 2015, one of its suppliers.