Agreement on the acquisition of the 100% stake in Elka was signed with Iskra, elektro i sistemske rešitve d.o.o., a company from Ljubljana. The agreement was signed on 22nd May 2021 in Zagreb. The transaction will be carried out once all the conditions have been fulfilled, i.e., after also obtaining approvals by relevant Croatian and Slovenian regulators for the protection of market competition.

The acquisition agreement was signed by Mr Dušan Šešok, director and owner of Iskra, and by Mr Miljenko Hacek, owner of Elka-Cotra group:

“The acquisition will greatly benefit Slovenian and Croatian economies as it creates a synergy between two recognized brands and two companies with well-established traditions, each of them being a symbol of reliability and quality in their respective sectors “, Šešok points out.
“Elka attracted the interest of a large number of investors and potential strategic partners, Iskra being one of them, and it is my belief that a partnership with this strong and agile Slovenian group will further boost Elka’s growth, ensure stability and progress through investments, efficient use of resources and know-how, i.e., through the transfer of knowledge, thus enabling us to keep pace with global advances in new technologies and manufacturing processes”, Hacek emphasizes.

Such a significant acquisition represents acknowledgment and recognition of the work of our entire team and of the exceptional results we have achieved over the past two years. Our results have been recognized at international level, in particular by Iskra company which expressed its strong interest in a strategic partnership with Elka.

We are confident that the acquisition of our company by such a renowned, progressive and successful group will enable us to embark on a new path of development, progress and prosperity and will benefit not only our business partners but also our employees.