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Sale of the France division unit of SMS-Elotherm France SAS to EO GROUP

SMS-Elotherm GmbH, of Remscheid, Germany, a market leader in induction technology and EO GROUP, a market leader in providing electro technology, today announce the signing of a definitive agreement to sell the France division of SMS-Elotherm France SAS to EO GROUP. The parties agree to keep the terms of the transaction private.

EO GROUP is a dynamic young company that is looking to extend it's portfolio for products and services in the French market. Its products and highly engineered electrical systems help build and maintain electric installations worldwide. Marian Reibert, Managing Director of Elotherm France, said, “After having worked with CEO Ferreres and his team over the past months to diversify and expand their business, we are pleased that Electro Ohms recognizes the strength of Elotherms portfolio as well as its future potential in the French market.

Mr. Martial Ferreres, Chief Executive Officer of EO GROUP, said, “With Elotherms ongoing support, we are well-positioned to continue to grow into the induction business. With further investments, we remain committed to delivering the broad product offering and value-added customer support that the end-users have come to expect from us.”

The closing of the transaction has been realized beginning of June 2022.

The new name is „EO Induction“