Engels Power tools

History

2025: Softline Venture Partners Fund buys Engels Power Tools plant

Venture fund Softline Venture Partners acquired from Severgroup holding Alexei Mordashov a plant for the production of power tools in the Saratov region, which previously belonged to the German corporation Bosch. The deal was completed in June 2025.

According to RBC, citing a representative of Severgroup, the buyer of Engels Power Tools LLC was Internet Projects LLC, which is 99% owned by Elena Volotovskaya, vice president of investment at Softline. The press service of Softline clarified TAdviser that the group is not related to the transaction.

Internet Projects LLC acquired 100% of Engels Power Tools LLC. Internet Projects LLC is not included in the perimeter of PJSC Softline Group. In this regard, PJSC Softline, like any group companies, has nothing to do with this transaction. On our part, we would like to confirm that Internet Projects LLC does not belong to the perimeter of Softline Group of Companies, we do not have information about the acquirer and ultimate beneficiaries, the group said.

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Фото: Freepik

Representatives of Severgroup explained the decision to sell the need to balance the group's industrial portfolio. The asset was included in the holding as a result of a transaction with S8 to acquire tire assets, but did not correspond to Severgroup's long-term development strategy.

The management of the holding emphasized that the deal allowed to preserve the functional integrity of the production complex. All obligations to enterprise personnel and business partners remain in force. The new owner will be able to ensure the further development of production facilities.

The Engels Power Tools production complex was launched in Engels in 2008 under the Bosch Power Tools brand. At the time of maximum capacity utilization, the plant produced up to 2 million units annually.^[1]

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