Elero in the news

Press Release

Nice S.p.A. buys Elero GmbH of Germany

Elero USA, Inc. boosts product range and service for American Market

Elero GmbH, a world leading manufacturer of motors and controls widely used in home automation and in exterior and interior sun protection systems announced this week that Nice SpA of Italy had purchased the majority of its shares. Until recently, Elero GmbH, based near Stuttgart, Germany, was privately owned by the Guenther Group formed by Wolfgang Guenther, who is internationally recognized as a leader in this industry.

The Elero brand and the operations of Elero USA are expected to remain unaffected. Elero products have been imported and marketed in North America for more than twenty years by Elero USA, Inc., an independently incorporated company based in Dallas, Texas. Jon Vrielink, President of Elero USA, commented that “Leading rolling shutter fabricators, especially in the storm-prone coastal areas of Florida and the Atlantic, quickly recognized the importance of Elero’s legendary dependability, and they keep us squarely on the map.”

As stated in announcements by Nice and Elero GmbH, the integrity of the Elero brand and the superb quality of Elero products will be fully maintained. In addition, this acquisition will generate fresh impetus to offer new technological excellence in automation. For Nice, the acquisition also represents the achievement of its objective of creating a presence for Nice in the German speaking countries of Europe.

The Nice Group, headquartered in Italy, manufactures systems for the automation of gates, garage doors, awnings, blinds, and other products for the home automation industry. According to the announcements made by Nice, the acquisition price of 80% of the Elero shares based on the agreements was set at 25.8 million Euros ($35.3 million). Nice is listed on the Borsa Italiana.

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9/23/2011