Transaction completed: MVM acquired a world-famous patent and an international energy company

On 31 December 2020 the transaction was completed under which MVM Group acquired 100 percent ownership of the Hungarian subsidiary of the German energy company Enexio, together with its two Chinese subsidiaries and a world-famous Hungarian patent. This marked another milestone in MVM's international expansion.

Through the acquisition of the previously German-owned Enexio Hungary Zrt. and its two Chinese subsidiaries, MVM Group's portfolio is augmented with companies of global importance. As a result, the Hungarian energy holding becomes active in the Chinese energy market while expanding regionally. In addition acquiring companies involved, among other things, in supplying industrial dry cooling technology, the transaction includes the legal acquisition of the patent for the world-famous Heller-Forgó cooling systems. After the change in the ownership Enexio Hungary continues its operation in its current form.

'The acquisition of a technology supplier that is an international leader in its market means a major milestone for us. The transaction is fully in line with MVM's strategic goals; thereby our company group would gain a leading role in the international power plant development market as well. Enexio's international sales competence and relations represent significant business potential for MVM' - said György Kóbor, Chairman and CEO of MVM Zrt.

Enexio Hungary has gained substantial know-how and international experience in the past decade, and can now continue its successful operation as part of the MVM Group, benefiting from its stable professional and shareholder background.

Enexio Hungary had a net profit of EUR 3.5 million in 2018 and EUR 1.5 million in 2019, with a revenue of EUR 5.9 million and EUR 18 million respectively, mostly generated by sales from export.