Turkey's Europower Enerji in talks with potential buyers

Europower Enerji ve Otomasyon Teknolojileri Sanayi Ticaret

10/02/2025 11:47

ISTANBUL, Feb 10 (Reuters) - Turkish energy equipment
manufacturer Europower Enerji is in discussion with potential
buyers from the United States, Europe and Asia over an
acquisition or partnership, company Chairman Behic Harmanli told
Reuters.
    The company specialises in low, medium, and high-voltage
equipment and benefits from Turkey's logistical advantages in
Europe, Africa, and the Middle East. 
    Harmanli said these potential buyers have made offers,
attracted by Europower's strong market position, profitability
and growth prospects. 
    "The decreasing number of global competitors and our ability
to increase revenue and profitability each year have positioned
Europower as an appealing target," he said in an interview.
    Harmanli declined to name the potential buyers due to
confidentiality agreements.
    Looking ahead, Harmanli said Europower is exploring
opportunities in Syria's energy infrastructure as part of the
country's postwar rebuilding efforts.
    Europower, which achieved nearly $300 million in revenue in
2024, is targeting $400 million in 2025, $500 million in 2026,
and $1 billion by 2027.
    With a market value of around $675 million, the company's
shares are primarily held by Girisim Elektrik Sanayi
 GESAN.IS (52.7%), and 30.25% are publicly traded.
    Harmanli highlighted the surge in global transformer demand
driven by factors such as rising energy needs, electric
vehicles, and renewable energy investments.
    He said the United States and Europe are struggling to keep
up with demand for grid equipment, creating opportunities for
Europower.
    "The transformer sector is under immense pressure, and this
supply crisis is expected to persist at least until the end of
2026," Harmanli said.
    Europower plans to invest in power transformers in 2025 and
has already secured full production capacity for that year, he
said.
    

 (Reporting by Ebru Tuncay; Writing by Ece Toksabay; Editing by
Daren Butler and David Evans)
 ((ece.toksabay@tr.com;))