S8 Capital acquires assets of German Bosch in Engels

MOSCOW. April 28 (Interfax) - The S8 Capital diversified holding completed its acquisition of the Russian assets of Germany's Bosch in Engels, Saratov region.

The agreement's comprises 100% of the three Bosch companies: a plant for the production of spark plugs, a plant for the production of power tools and a site for the production of heating boilers, a press release from S8 said.

"S8 Capital will resume the work of these enterprises and continue to invest in their development. The team, technologies and specializations of the production sites will be completely preserved. The entire staff, about one thousand employees, will continue to work at their jobs," the release says. "Within six months from the moment the transaction is completed, the Engels plant will be undergoing a rebranding process, while the quality of its products will continue to meet the highest international standards."

Thorsten Schubert, Managing Director of S8 Capital, said in a press release that "the acquisition of Bosch assets in Engels is the next step in the development of the diversified holding. The new assets, in addition to our existing businesses, will expand production and scientific and technological cooperation between industrial sites, increase the level of their localization, and as a result, increase the efficiency of S8 Capital holding's production capabilities," he said.

S8 Capital in July 2022 acquired all Russian assets of the American Otis Elevator Company, the world leader in the production of vertical transport. New orders and the operation of the elevator plant in St. Petersburg resumed three days after the completion of the transaction. In the first month of operation, the plant produced more than 400 pieces of equipment, reaching its maximum level since March 2022. In January 2023, the company introduced its new trademark METEOR Lift, under which the company's products are manufactured today, and services are provided in all Russian regions.

S8 Capital brings together industrial and high-tech assets from various sectors of the economy: from manufacturing to media, e-commerce and analytical services. More than 7,000 specialists work in the holding's different divisions.