Cristec joins the Euro Elec Group
The manufacturer of electric chargers Cristec had experienced difficulties at the end of 2022, leading to its receivership, the ENAG group, its owner wishing to sell it. The Commercial Court of Quimper validated on May 12, 2023 its recovery by the Breton group Euro Elec. This other electricity specialist, based in Châteaulin in Finistère, also owns Breizelec and Mantagua, a lighting brand present on the nautical market.
Cristec's move to Châteaulin
All Cristec staff is committed to the project and will move to the Châteaulin site. The operation was anticipated to impact the customers as little as possible, while Cristec has already started to reconstitute its stocks, after the difficulties of 2022, as Armelle Rolland, sales and marketing director, explains: "Remaining on excellent terms with ENAG, we have pushed back the move date as far as possible, to the end of July, to have as little impact as possible, as our customers are at the bottom of their business at that time. The interruption should not last more than 1 week to 10 days. In Euro Elec's new premises, built in 2019, additional square meters had been anticipated for external growth.
We are preparing the move of equipment, components, data and personnel. 6 employees 100% dedicated to Cristec are moving, while accounting, management and other support functions, outsourced to ENAG, will be taken over by Breizelec. External recruitments are anticipated for 2024."
Technical and commercial synergies
By integrating the Euro Elec group, Cristec secures its supply. Indeed, Breizelec produces electronic cards, an element that had been lacking at Cristec, recalls Armelle Rolland: "This is an evolution of our business model, with a fully integrated organization. We are going to set up dual sourcing of electronic cards with our former partner and internally with Breizelec. This allows us to build up stock. Euro Elec has already begun to provide us with its expertise in the acquisition of parts."
Synergies are also commercial, especially with the LED lighting brand Mantagua, as the sales director concludes: "Today, Mantagua and Cristec have the same markets and the same types of customers. So we will be strengthened. It's also an export opportunity, to grow faster, with a broader offering."
