SGB-SMIT has signed an agreement with COMEL to acquire a majority stake in COMEL Transformatori, a Serbian transformer manufacturer. This strategic investment represents an important step in SGB-SMIT’s growth strategy and strengthens its market presence in Europe.
The partnership combines COMEL's regional market presence, technical expertise, and entrepreneurial culture with SGB-SMIT's engineering know-how, global supply chain strength, international sales network, and transformer manufacturing expertise. Together, the companies aim to serve customers even better, accelerate growth, strengthen their position in the power transformer segment, and expand opportunities across Southeast and Eastern Europe while maintaining COMEL's strong position in its home markets.
"We welcome our new colleagues to the SGB-SMIT Group. 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", said Holger Ketterer, Group CEO of SGB-SMIT.
"This partnership provides COMEL with access to a global network of customers, engineering expertise, and R&D capabilities. At the same time, we remain committed shareholders and look forward to actively shaping the future of the company together with SGB-SMIT", said Zoran Milutinović and Jasmina Stupar Marković.
The transaction remains subject to customary closing conditions and regulatory approvals. Closing is expected to be in H2 2026.
About COMEL Transformatori
COMEL Transformatori, based in Ripanj near Belgrade, Serbia, is a manufacturer of power transformers serving utilities, industrial customers, and infrastructure projects throughout Europe. Building on the heritage of Minel Transformatori, the company combines decades of transformer expertise with continuous investments in engineering, production, and service capabilities.
About SGB-SMIT Group
SGB-SMIT Group is a leading independent manufacturer of power and distribution transformers serving customers worldwide in the utility, industrial, renewable energy, and infrastructure sectors. The Group operates a global network of production facilities and engineering centers and provides transformer solutions ranging from distribution transformers to large power transformers.
