Business news

Hidria management and partner mount buyout

Idrija, 24 June (STA) - Representatives of internal owners and the wider management of Hidria announced on Wednesday together with strategic partner, entrepreneur Alex Luckmann, the intention to take over H&R, which owns the Idrija-based industrial conglomerate. The group presently owns 52.03% in H&R.


This is a renewed attempt at taking over Hidria, a diverse industrial group specialised in mechanical and electrical components for the automotive industry, after minority shareholders Iztok Seljak and Dušan Lapajne mounted one at the start of last year through the firms Inovatis and Ladis.

The pair later gave up on the takeover, but in the process they managed to acquire almost 20% in H&R, which owns Hidria through Hidria Holding, ran by Seljak.

Seljak and Lapajne are being joined this time by the firm Rafis, as well as Bernard Peternel, Simon Velikonja, Vojko Sedej, Marko Hladnik, Nataša Pelhan, Mirko Petrovčič, Bojan Čuk, Klavdijo Kržišnik, Cvetka Batič, Maja Petrovčič, Andreja Uršič, as well as Alex Luckmann on his behalf and for the emerging firm Solyd.

Luckmann, who Seljak says has extensive experience in the auto industry, will publish the takeover bid, shows the takeover intention published today in the newspaper Delo. Hidria's shares are listed on the Ljubljana Stock Exchange.

In a press release, Seljak said Hidria is among the leading companies in Europe and globally when it comes to individual segments of the auto industry and industrial applications.

"Based on healthy foundations for the future, on innovation and development solutions that are the fruit of decades of work, it is also successfully dealing with the current impact of the Covid-19 crisis."

According to Seljak, the company needs a stable and responsible ownership structure that will provide it with long-term strategic and financial stability if it wants to secure a continuation of successful operations.

The Hidria Holding group generated EUR 266.1 million in net sales revenue in 2018, a 6.6% increase on the year before. Net profit was down 20.8% to EUR 12.3 million.