SMERemediumCap investment fund and Doppler have reached an agreement for the acquisition of a minority equity stake in the latter.
The Luxembourg-based investment fund SMERC is set to acquire 35% of Doppler’s existing share capital. The agreement pertains to acquiring a portion of the nominal (voting rights included) shares of the Greek Company specializing in the design, construction, and marketing of elevators currently held by its principal shareholder, Mr. Stavros Stavropoulos.

As part of the agreement, the following points have also been announced:

• The General Meeting of Shareholders will discuss increasing Doppler’s share capital through a public offering with participation from existing shareholders.
• SMERC will enhance Doppler‘s liquidity by acquiring convertible bonds issued by the Company and issuing warrants to acquire shares.
• No plans exist to list convertible bonds and warrants on the regulated market or the Athens Stock Exchange.
• The share buyback from the main shareholder, the increase in share capital, and the issuance of warrants will occur at the same price.
• This transaction is expected to be completed within the second quarter of 2024. Following this, the Stavropoulos Family will retain the majority of the company’s share capital and management.

Future Objectives
The Stavropoulos family remains the main shareholder and continues to manage Doppler. This collaboration with SMERC is part of a strategic plan aimed at significant business growth, direct capital injection into Doppler, improving liquidity conditions, implementing an ambitious investment plan, and expanding the customer networks domestically and internationally.

Mr. Stavros Stavropoulos, Doppler’s main shareholder and CEO, stated: “We are particularly pleased to collaborate with the investment fund SMERC and the significant investment program that will be implemented. The shared philosophy of company development, combined with our extensive experience and specialization in the industry, creates significant prospects for success.”

Mr. Nikos Karamouzis, Executive President of SMERemediumCap, also remarked: “We would like to express our appreciation and confidence in the Stavropoulos family and our commitment to jointly contribute to Doppler’s development trajectory. Our investment in Doppler confirms the fund’s strategy to support small and medium-sized productive enterprises with significant domestic and international growth potential.”