02/07/2021

2 July 2021
2 July 2021, Comments Comments Off on Dometic has acquired Büttner Elektronik
Dometic has acquired Büttner Elektronik

On July 2, 2021, Dometic acquired Büttner Elektronik – a Germany-based provider of mobile power solutions for the outdoor market: high-end mobile power products, including solar power solutions, batteries and battery chargers.

“I am pleased to welcome Büttner Elektronik and its employees to Dometic. With Büttner Elektronik we are strengthening our product offering and distribution network in the fast-growing area of mobile power solutions for the Outdoor lifestyle. Our strategy for profitable expansion in Mobile Living is built on a combination of organic and acquisitive growth. This is our sixth announced acquisition this year and our pipeline of potential future acquisitions remains strong.” says Juan Vargues, President and CEO of Dometic.

Büttner Elektronik serves several vertical end markets in the outdoor space. The products are primarily sold in Germany and approximately 75% of net sales is in Service and Aftermarket. 2020 net sales were approximately EUR 13 million with a good operating margin and strong organic sales growth. The company is privately owned, has 17 employees and is headquartered in Neuenkirchen, Germany.

Expansion in the fast-growing market for mobile power solutions is a strategic priority for Dometic. The market demand for sustainable and effective off-grid mobile power solutions is rapidly increasing as more and more people spend time outdoors using a vehicle or boat as the base. The acquisition of Büttner Elektronik broadens Dometic’s offering and distribution network of mobile power solutions for the European outdoor market.

The acquisition is fully financed via cash on hand and is expected to be accretive to Dometic’s EPS from start. The transaction price is not material in relation to Dometic’s market capitalization and is not disclosed. The transaction is structured as a simultaneous sign and close and is effective from today. Büttner Elektronik will be reported as part of segment EMEA.