American manufacturer of electric vehicle chargers acquires another Serbian company

Beam Global, a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, announced the closing of the acquisition of Telcom.

Telcom is a company located in Belgrade, which since 1990, engineers and manufacturers specialized power electronics including invertors, charge controllers, power supplies and LED lighting.

The purchase price for the acquisition was EUR 815,298 of which EUR 385,298 was paid in unregistered shares of Beam Global common stock and EUR 430,000 was paid in cash.

Beam Global expects that the acquisition of Telcom will enable the company, which currently relies upon power electronic components provided by outside vendors, to enhance its products, improve quality, reduce warranty and service requirements, and reduce costs through the replacement of third-party power electronic components with Beam Global engineered and manufactured solutions.

Telcom, now Beam Europe’s power electronics team, will be tasked with creating bespoke solutions to replace third-party products enabling Beam Global to retain margin and create products with lower failure rates, says the San Diego-based company.

Beam Global also intends to support Telcom in growing its current legacy business with notable large customers that include the region’s largest telecommunications provider and a materials rehandling product company, engaged in the electrification of forklifts and other equipment.

– Beam Global and Telcom believe that there are significant opportunities to cross-sell the Company’s energy storage and renewable energy products to Telcom’s existing client base – the press release says.

Let us remind that Telcom is the second company bought by Beam Global in Serbia – at the end of last year, the American company acquired Amiga in Kragujevac, which produces specialized structures and equipment, including public lighting. The result of this acquisition became apparent as soon as June – as Forbes Srbija reported, a new product was developed at the facility in Kraljevo, a free-standing parking station meant for a foreign buyer.

CEO of Beam Global Desmond Wheatley says that the acquisition of Telcom continues their strategy of vertical integration and market expansion which we started with AllCell batteries in 2022 and Amiga’s streetlight and other capabilities in 2023.

– I am thrilled that Beam Global products will finally start to integrate technology solutions which are designed to address the highly challenging conditions in which they have to operate. I believe our products will become more powerful, more reliable and less expensive to make. That’s great news for our customers and great news for improving profitability. We will also continue to grow and support Telcom’s core business in ways which we believe that they have previously not been able. I have met with leadership at Telcom’s largest customers and consistently heard that they wish to do more with Telcom. Beam will make that happen. Improved products, increased revenues, increased profitability, more product and customer reach, and an excellent value-creating team of highly skilled engineers is what I see coming with this acquisition – Wheatley said.

B. P.

TELCOM-ZEMUN

Beam Europe d.o.o. Kraljevo

Beam Global

Beam Europe

Telcom Belgrade

Amiga Kraljevo

AllCell Chicago

Desmond Wheatley

acquisition

takeover

company purchase

electric vehicle charging stations

specialized energy electronics