EWIE Group of Companies (EGC) has signed a letter of intent to purchase majority stake in KROMI Logistik AG
EGC has signed a letter of intent to purchase the majority stake in KROMI Logistik AG. The closing of this transaction is expected to happen over the next few weeks.
“We are excited to welcome KROMI Logistik AG to the EGC family. The acquisition of KROMI is a strategic move that will allow EGC to leverage the KROMI brand for accelerated growth in Europe and South America, especially in small and middle markets” said EGC President Jay Mullick. “The joint business will provide better technology, engineering, and supply chain services to our customers.”
EGC’s Co-President Scott Burk added, “This acquisition will help EGC reach the billion-dollar revenue goal within next 3-5 years. We are thrilled to have KROMI join us and help us grow by leveraging their brand and resources in Europe and South America.”
“We look forward to joining the EGC family. It will enhance our technology and overall infrastructure” remarked Bernd Paulini, CEO of KROMI. "We all welcome everyone at KROMI Logistik AG to EGC Family. TOGETHER, we shall deliver profitable growth” said Manoj Sachdeva CEO of EGC.
About EWIE Group of Companies (EGC)
EGC is a global leader in Tool and MRO management services with a focus on engineering solutions and supply chain services. EGC is comprised of EWIE, PSMI, SourcePro, Gaging Solutions and Services and EGCSupply businesses. EGC’s focus is to reduce customers’ operating costs and improve production efficiencies using technology and data. EGC provides its services to over 250 factories in 14 countries. Late Dilip Mullick and current CEO of EGC, Manoj Sachdeva founded EWIE in 1981.
About KROMI Logistik AG
KROMI Logistik AG provides tool management solutions using its state-of-the-art vending solutions and tool specialists. It is based out of Hamburg Germany with four locations in Germany and has four foreign subsidiaries in Europe and South America. KROMI has business in 12 countries.
For additional information related to the acquisition, please reach out to:
CEO KROMI Logistik AG
+49 40 53 71 51-0
CFO KROMI Logistik AG
+49 40 53 71 51-0
Download press release:
-> Press release from September 18, 2023