ISTANBUL (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(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)
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