Germany-based SGB-SMIT is set to become the majority owner of Comel.
SGB-SMIT and Comel have signed an agreement under which the German group will acquire a majority stake in Comel Transformatori, with closing expected in H2 2026, according to the two companies.
The strategic partnership creates new opportunities for sustainable growth, technological development, knowledge sharing, and long-term value creation for customers, employees, and business partners, Comel said.
The two companies aim to expand opportunities across Southeast and Eastern Europe while maintaining COMEL’s strong position in its home markets.
Ketterer: Comel is an excellent strategic fit
According to SGB-SMIT, this strategic investment represents an important step in the company’s growth strategy and strengthens its market presence in Europe.
The partnership combines COMEL’s regional market presence, technical expertise, and entrepreneurial culture with SGB-SMIT’s engineering know-how, global supply chain strength, international sales network, and transformer manufacturing expertise, the company explained.
SGB-SMIT CEO Holger Ketterer stressed that Comel is an excellent strategic fit.
“Together, we will strengthen our position in the European power transformer market and create new opportunities for customers, employees, and both companies”, Ketterer added.
The partnership provides Comel with access to a global network of customers, engineering expertise, and R&D capabilities
According to Zoran Milutinović and Jasmina Stupar Marković, Comel shareholders, the partnership provides the firm with access to a global network of customers, engineering expertise, and R&D capabilities.
“At the same time, we remain committed shareholders and look forward to actively shaping the future of the company together with SGB-SMIT”, they pointed out.
Comel manufactures and refurbishes power transformers, but it also designs, engineers and executes works, maintenance. Its partners are General Electric, ABB, WEG, Finder, Siemens, Schneider Electric and others, according to the firm’s website.
Comel’s main factory is in Ripanj near Serbia’s capital Belgrade.
SGB-SMIT Group is a manufacturer of power and distribution transformers. It is headquartered in Regensburg, Germany, with firms in Germany, the USA, Malaysia, the Netherlands, Romania, the Czech Republic, India, China and France.
