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Axopar Group acquires majority stake in composite manufacturer

Axopar Group has acquired a majority shareholding in Markos Sp. z.o.o. through its newly founded subsidiary AX Composites Ltd.

The intention is for Axopar to become one of the world’s leading manufacturers of composite technology. 

Markos, based in Slupsk, Poland, specialises in building componentry for heavy industry as well as the energy, marine and leisure industries and is a leading manufacturer of fiberglass-reinforced composite products.

The net sales of Markos were over EUR 71 million in 2023, and the company employs more than 1,200 professionals.

The composite manufacturer has more than 30 years of experience in component design, construction, and fabrication.

The company was founded in 1991, and its products are currently available in 30 countries.

Markos has more than 30 years of experience in component design, construction, and fabrication
Markos has more than 30 years of experience in component design, construction, and fabrication

The acquisition is in line with Axopar’s growth strategry with the company saying that despite a market slowdown, the boatbuilder is accelerating, achieving a 15% revenue growth in 2023 while also increasing its profitability.

“We promised that our tenth anniversary year would be full of surprises. The investment in Markos stands as one of the most significant announcements during this milestone year,” said Jan-Erik Viitala, founding partner of Axopar.

“A strategic expansion of this kind is more than just an investment; it is a testament to our commitment to constantly taking steps forward, innovating and growing.”

The investment will provide Axopar with access to Markos’ composite manufacturing facilities, technologies, knowledge and skilled workforce in Poland.

This will enable Axopar to enhance its R&D and production capabilities, streamline its operations, increase efficiency, and meet the growing demand for its innovative products. 

Markos’ current business and relations will continue without change and Szymon Koseski will continue as CEO of Markos.

“A strategic expansion of this kind is more than just an investment; it is a testament to our commitment to constantly taking steps forward, innovating and growing.”

Jan-Erik Viitala, founding partner of Axopar

The only management changes will be in Markos’ supervisory board and management board with Cesary Koseski joining as advisor for the supervisory board.

The supervisory board will consist of Ari-Pekka Saarikangas, Frans Zeiser and Sebastian Temporale. Szymon Koseski and Albert Zaleski will form the management board and support the current management.

“As family-owned companies, Markos and Axopar share the same values when it comes to building brands based on experience, solid reputation and dedication,” said Szymon Koseski, Markos CEO.

“Strengthening our relationship with Axopar enables us to enter new markets with our products. This investment is a matter of pride for our company and team, and a great distinction for the entire region in which we are located.”

Another family-owned company, Gebr. Fassmer AG, known for the construction of lifeboats and rescue crafts, has been a minority owner of Markos since 2001 and will continue as a shareholder together with Axopar.

“We are thrilled to welcome Axopar as Markos’ new majority shareholder and eagerly anticipate combining our strengths to develop Markos’ operations,” said Holger Fassmer, Fassmer MD.

Financial details of the deal have not been disclosed.

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