Kiesel Group's investment opens up strategic business potential

ELARIS AG: Kiesel Group's investment opens up strategic business potential

Bad Dürkheim, 24 September 2024 – ELARIS AG ("ELARIS", ISIN DE000A37FT17), a manufacturer of innovative electric vehicles, has with the internationally operating specialist Kiesel Group an investor, from whom the company also hopes to gain strategic impetus in the expansion of its operating business. Kiesel Invest, which belongs to the renowned family-owned company with more than 45 locations in Europe, recently acquired an indirect stake in ELARIS in a significant single-digit percentage range. The Kiesel Group sees a steadily increasing demand for the electrification of machines in its industrial sector. In addition to the Kiesel Group's stake in ELARIS, the medium-term plan is to develop joint products and technologies for construction, transshipment and compact machines.

Toni Kiesel, Managing Partner at Kiesel: “The electrification of construction vehicles is crucial for the success of the energy transition, as the industry is responsible for a large proportion of global CO₂ emissions. As a sustainable family business, we therefore want to continuously develop innovations in this area. This is also the reason behind our investment in ELARIS. We would be delighted if ELARIS were also able to contribute innovative solutions for the electrification of the construction, transshipment and compact machinery industry.’

The tradition-steeped company Kiesel is a manufacturer, developer, dealer, rental company and service provider of construction and transshipment machines and accessory equipment. In the fiscal year 2023, Kiesel generated sales revenues of over EUR 600 million with around 1,200 employees. The subsidiary Kiesel Invest also holds various equity interests in the technology sector. 

Lars Stevenson, CEO and Founder of ELARIS AG: "We are delighted to have Kiesel on board, especially as a strategic investor with many years of expertise in the field of construction machinery. Together, we are on the right track to driving innovation in the electrification of construction vehicles."

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