WASHPOWER establish new subsidiary by acquiring their French Distributor

In connection with a planned generational transition at Washpower’s distributor, ID1PORT, in France, Washspower has acquired 80% of the company’s shares. The agreement includes the continued involvement of the former owner, Christian Lescouezec, who will remain in the company for six months. This is done to ensure a seamless transition. Additionally, the company’s two other stakeholders, Mrs. Olga Le Jeune and Mr. Pierre Pronost, each holding 10% of the shares, will continue their roles within the organization. Christian Lescouezec, former owner of ID1PORT, expressed confidence in the acquisition, highlighting its positive implications for both employees and customers of ID1PORT. He reassured stakeholders that ID1PORT, established seven years ago, will continue to operate in France under Washpower’s ownership.

Peter Tipsmark, CEO of Washpower, has throughout the process emphasized the strategic importance of the French market, stating that France holds significant value for Washpower’s operations. Over the past seven years, ID1PORT has effectively developed the market for washing robots in the agricultural sector, by successfully selling Washpower’s robotic washing units. Washpower expresses great gratitude towards ID1PORT for their superior work through the years.

With the acquisition of ID1PORT, Washpower will ensure continuity for existing customers while also leveraging this platform for future growth opportunities across various segments in France. Moreover, Peter Tipsmark has announced plans for two additional hires within the newly established subsidiary in France.

At Washpower we look forward to continuing the work of delivering reliable washing solutions to our French customers and strengthening our presence in the French market further.

CEO, Peter Tipsmark