The Czech industrial group CONTEG, named Company of the Year 2024, has acquired two companies from Kroměříž – Spálovský and Global Business. Both companies, among the largest manufacturers of electronic switchgear in the Czech Republic, will become part of the newly established energy division, Conteg TSE.

Spálovský and Global Business share many similarities, but even after the acquisition, they will retain their brand and identity. In addition to both companies being based in the Kroměříž region, they hold licenses for contracts in the railway and nuclear energy sectors, each employs around 70 people, and their turnover in 2023 was approximately 250 million CZK.

CONTEG Group includes 10 companies with more than 500 employees and exports products to 70 countries worldwide. Following the acquisition, the Conteg TSE division will consist of five businesses with expected revenues of 1.3 billion CZK. The entire group expects a turnover of 2.5 billion CZK, with EBITDA for the previous year amounting to 138 million CZK.

CONTEG expects the acquisitions to increase production capacity, integrate knowledge, and strengthen competitiveness in foreign markets. The total value of the transactions was in the lower hundreds of millions and is subject to approval by the antitrust office.