Skip to main content

Harju Elekter Group to divest part of its holding in Skeleton Technologies Group OÜ

Written by Customer Service on . Posted in Public Companies.

The Supervisory Board of AS Harju Elekter Group has decided to accept an offer made by Siemens International Holding B.V. for the partial sale of Harju Elekter’s shareholding in Skeleton Technologies Group OÜ. The transaction value is EUR 5.7 million and is expected to be completed during the current year.

Harju Elekter first invested in Skeleton in 2015, recognising both the company’s long-term growth potential and the strategic opportunities for collaboration in the development and application of energy storage and supercapacitor technologies. Since then, Skeleton has grown into one of Europe’s leading developers of energy storage technologies.

The transaction enables Harju Elekter to realise part of the increase in the value of its holding and fully recover its initial investment with a moderate return, while strengthening the Group’s financial flexibility and supporting future investment and growth opportunities as well as dividend-paying capacity. Since acquiring the holding, Harju Elekter has sought to realise the investment at an appropriate time and under suitable conditions, and the Management Board believes that this transaction represents a good opportunity to partially achieve that objective. Following the partial disposal of its holding, Harju Elekter will remain a shareholder in Skeleton but sees the possibility of fully exiting the investment during 2028, subject to suitable opportunities and conditions.

The transaction is not considered a transaction of significant importance, nor is it regarded as a transaction with related persons under the “Requirements for Issuers” section of the NASDAQ Tallinn Stock Exchange Rules. The members of the Supervisory Board and the Management Board of AS Harju Elekter Group have no personal interest in the transaction in any other way.

Siemens AG (Berlin and Munich) is one of the world’s leading technology companies, operating in the fields of industry, infrastructure, mobility, and healthcare, with a focus on developing solutions that support digitalization, automation, and sustainability.

Harju Elekter is an international industrial group with extensive experience in providing future proof solutions for electrical power distribution. We engineer, manufacture, and install electrification solutions for utilities, industries, infrastructure, public and commercial buildings. The entities of Harju Elekter Group in Estonia, Finland, Sweden, and Lithuania employ around 840 people, and the Group’s revenue in 2026 was 77.2 million euros.

Tiit Atso
Chairman of the Management Board
Tel +372 674 7400

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.