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Elenger Group has received approval from the Polish competition authority to acquire a natural gas distribution network and energy sales operations in Western Poland. The transaction amounts to €120 million, making it the largest known Estonian-origin investment in Poland.
"Infortar continues its expansion in the energy business – we are acquiring a functioning organization and opening up a new gas market, which is four times larger than our home market in the Baltic-Finnish region, offering opportunities in Europe’s fastest-growing economy. With the acquisition of EWE companies, we are creating a strong platform for the further growth of Infortar and Elenger,” said Ain Hanschmidt, CEO of Infortar.
“We consider the Polish market important and aim to provide customers with the best network and energy sales services. Our core product and expertise lie in natural gas – long-standing experience in the field of liquefied natural gas (LNG) and a focus on selling Western-origin natural gas have earned us the trust of our customers. The energy portfolio must be diversified, and we see gas playing a role today and in the future as a partner to renewable energy,” noted Margus Kaasik, Chairman of the Management Board of Elenger Group.
The acquired Polish companies will operate under the Elenger brand. A six-member supervisory board will be established to manage Elenger Polska, chaired by Andres Trink, the former CEO of one of the largest construction companies in the Baltic region, Merko. Krzysztof Noga will continue as the Chairman of the Management Board.
“The rapid growth of Infortar and Elenger is impressive and inspiring. The addition of EWE’s Polish operations is a key cornerstone for continued growth. Following the ownership change, it will be essential to establish strong collaboration with the group’s other units, maintain a focus on customer service, and expand the client base and partnerships. I am pleased to contribute to realizing Infortar’s and Elenger’s ambitions in Central Europe together with the company’s strong team,” commented Andres Trink.
Soon to be renamed Elenger Polska, the company is the second-largest privately-owned network operator in Poland. It manages a 2,316 km natural gas distribution network in Western Poland, primarily in the Poznan region, and serves over 25,000 customers. In addition to infrastructure management, the company is involved in the sale of natural gas and electricity, with its energy sales reaching 1.2 TWh last year.
