The SMERemediumCap Investment Fund (SMERC) is making a strategic investment in Doppler, according to a statement, with the aim of contributing to its dynamic growth in the domestic and international market.
Doppler, with significant production infrastructure in Kilkis, is active in the design, manufacture and marketing of elevators. It stands out for having knowledgeable management and staff as well as the capacity to create specialized solutions for its clients.
According to the statement, "Doppler is mainly an export company with more than 85% of its revenues coming from sales abroad, having implemented major elevator projects such as in Trafalgar Square in London, the Athens metro, Kuwait airport, the historic centre of Ecuador, etc. The company is listed on the E.N.A. of the Stock Exchange.
SMERC's strategic partnership with the Stavropoulos family, key shareholders of Doppler, is aimed at the significant growth of the Company's business, the immediate capital strengthening of the Company, the improvement of liquidity conditions and the implementation of an ambitious investment plan, aimed at upgrading its production capabilities, facilities and further extroverted growth.
Our central objective is to expand our customer networks, both in Greece and abroad. In the context of the transaction, the refinancing of the Company's borrowings from the National Bank of Greece, which is also the Company's main bank, is also in progress.
"We are particularly pleased to be working with the SMERC investment fund and the significant investment program that will be implemented. The Company's common growth philosophy, combined with our own long experience and expertise in the industry, create significant prospects for success," says Doppler's main shareholder and CEO Stavros Stavropoulos.
"We would like to express our appreciation and trust in the Stavropoulos family and our commitment to jointly contribute to Doppler's growth path. Our investment in Doppler confirms the Investment Fund's strategy to support small and medium-sized productive enterprises that have significant growth potential, both in the domestic and international markets", says Nikos Karamouzis, Executive Chairman of SMERemediumCap.
Under the terms of the agreement, SMERC will acquire a minority shareholding in Doppler, namely 35% of the existing share capital, through the purchase of part of the ordinary registered shares with voting rights currently held by its main shareholder, Mr. Stavros Stavropoulos.
Furthermore, in the context of the transaction, it has been agreed, with the implementation of the necessary corporate procedures and the observance of the legal formalities, to propose to the General Meeting of Shareholders for approval the increase of the Company's share capital up to the amount of €500,000 through a public offer and participation of the existing shareholders.
SMERC will also strengthen the Company's liquidity by acquiring, from the Company itself, the issue of a convertible bond of €4,000,000 and the parallel issue of warrants in the amount of €1,350,000. There are no plans to list the convertible bond loan and share warrants on the regulated market or on the Athens Stock Exchange's NSE.
The repurchase of shares from the main shareholder, the share capital increase, and the issue of share certificates will be carried out at the same price, i.e. €0.35 per share. Upon completion of the transaction, the Stavropoulou Family will retain the majority of the share capital and the management of the Company.
The completion of the transaction, which is scheduled for the 2nd quarter of 2024, as well as all the individual shareholder agreements described above, are, of course, subject to the adoption of all necessary corporate resolutions and the approval of the above described corporate actions by the competent corporate bodies of the Company, as well as the completion of all necessary formalities required by law".
