The company Elka, owned by the Slovenian group Iskra, has acquired a 50 percent stake in the company Elkakon, which produces industrial guides, marking Iskra’s fourth acquisition in Croatia, Elka reported. The contract for the acquisition of the ownership stake in Elkakon was signed today in Zagreb.
Elkakon was established at the end of 2003 and has continued the long-standing production of round and profile industrial guides for its founding companies. Elkakon’s production capacity of approximately 1,150 tons per year ranks this manufacturer among the larger ones in Croatia and neighboring countries in the assortment of round and profile industrial guides. Half of the ownership stake remains in the hands of the company Končar – distribution and special transformers.
– This is a kind of rounding off of the transaction for the acquisition of the cable business for the Iskra group, but also an expansion of cooperation and partnership with the Končar group. These are two regional brands that are globally present with their products and integrated solutions. I believe that Iskra and Končar can collaborate more intensively in other areas, and I see this acquisition as the first step in that direction – stated Dušan Šešok, the CEO and majority owner of Iskra.
Three compatible acquisitions have already been included in the Iskra group – first, in 2019, it became the owner of the NCP Ship Repair Yard in Šibenik, then in 2021, the Zagreb cable factory Elka joined, and subsequently, this Slovenian corporation became the majority owner of the Split company Elmap, a manufacturer of automation for wastewater and drinking water treatment devices.
