German SGB-SMIT to Take Majority Stake in Comel
Germany-based SGB-SMIT has signed an agreement to acquire a majority stake in Serbian transformer manufacturer Comel Transformatori, with the transaction expected to close in the second half of 2026.
According to the companies, the partnership is intended to support long-term growth, technology development, knowledge sharing, and expansion across Southeast and Eastern Europe while maintaining Comel's position in its domestic markets.
The acquisition is part of SGB-SMIT's broader strategy to strengthen its presence in the European power transformer market. The companies said the partnership combines Comel's regional expertise and market presence with SGB-SMIT's engineering capabilities, international sales network, and global supply chain.
Holger Ketterer, CEO of SGB-SMIT, said: "Comel is an excellent strategic fit. Together, we will strengthen our position in the European power transformer market and create new opportunities for customers, employees, and both companies."
Zoran Milutinović and Jasmina Stupar Marković, shareholders of Comel, said the partnership will provide the company with access to a global customer network, engineering expertise, and research and development capabilities, while confirming they will remain committed shareholders.
Comel, headquartered in Ripanj near Belgrade, manufactures and refurbishes power transformers and provides engineering, maintenance, and related services.
