GPV and Enics are now one
The merger of Danish GPV and Swiss-headquartered Enics has officially been completed.
Today, on the third of October, a new EMS player took its first steps as the merger of Denmark's GPV and Switzerland's Enics was completed. The new company is focused on electronics manufacturing and business within test systems, comprised within-house mechanics and cable-harness manufacturing. The merged company will have a strong focus on industrial electronics, box-build / mechatronics / turnkey products, a press release reads.
The merged company will operate under the name GPV Group A/S, and Bo Lybæk will head the industrial group as CEO. Elke Eckstein will step down as CEO for Enics and be available as an Integration Advisor to the CEO until the end of January 2023.
“GPV and Enics are a very strong match, and I am pleased that the merger is now a reality. I believe that our combined strengths will make us an attractive partner to our customers in a fast-changing marketplace. We look forward to implementing the merger plan we have developed together with our new colleagues from Enics, and we execute with humbleness. We know that the merger will be a big task, but we expect it to be a great success. I thank Elke for the trust she has placed in me by passing on the baton for Enics, and I look forward to meeting and bringing together all the many dedicated people in the new merged company,” says Bo Lybæk, CEO of GPV, in the press release.
Since the agreement was signed back in late June 2022, GPV and Enics have planned the integration between the two companies, and the many discussions at the management level have confirmed that the future "looks bright for the new company".
“Enics and GPV are merging into a new company that has the best service offering in the EMS market, following the strategic growth path of both companies. This is an achievement that is based on the continuous hard work and service and electronics knowhow of our people – this work now pays off as the best possible outcome: With this merger, we’re building the future for our people and the entire EMS industry. We have reached the best possible scenario for both Enics and GPV, and I am convinced that success will crown this new company. Therefore, I am happy to pass on the leadership to Bo,” says Enics' CEO Elke Eckstein, in the press release.
GPV Group will have a total of 7,500 employees and operate 19 factories worldwide – in Denmark, Switzerland, Finland, Slovakia, Estonia, Sweden, Austria, Germany, Thailand, China, Sri Lanka, Malaysia, and Mexico.
Both companies bring high demands and full order books into the merger, and GPV Group has strong growth ambitions for the coming years.
CEO Bo Lybæk says in the press release that the company aims to grow its sales to about DKK 10 billion (EUR 1.34 billion) by 2026, but he also recognises the challenging business environment which could shortly be the reality.
"We are now embarking on an exciting growth journey and, very importantly, we aim for it to be a profitable growth journey. After the merger, we will be even stronger, and this supports our expectations for the future," says Bo Lybæk.