"Interskol", the Russian manufacturer of power tools, which occupies 19% of the market, was on the verge of ruin. His debt to Sberbank, VTB and UniCredit Bank reached 6 billion rubles, and the company's assets are pledged to banks.
But there are applicants for the stake in Interskol. Co-founder of "Technonikol" and "Fishermen Fund" Igor Rybakov (his fortune Forbes estimates at $ 1.2 billion) is ready to buy a controlling stake in the company for 500 million rubles., Told "Vedomosti" two sources close to the different sides of the negotiations. "These funds the company will be able to send to maintain production and a high level of capacity utilization," says one of them. "However, Rybakov's condition is the possibility of restructuring loans for a period of seven years and deferring payments for them for two years."
"Interskol" is interesting and American Black & Decker. She is ready to buy a Russian brand for $ 45 million (2.8 billion rubles at the rate of the Central Bank on July 10), the interlocutors know. The American company is not interested in developing and maintaining production at the Russian plant "Interskol", one of them is skeptical.
Representatives of Rybakov and Interskol confirmed that negotiations with banks are underway. "VTB with a number of other banks is in talks on restructuring the company's credit debt," the bank's representative said. Sberbank's representative declined to comment, UniCredit Bank and Black & Decker did not respond to Vedomosti's requests.
According to SPARK-Interfax, Interskol belongs to individuals: 32.5% from Sergey Nazarov and Stepan Orlov, 20% from Sergey Okunev, 15% from Valery Lotin.
In 2014, Interskol built the first stage of the power tool factory in the special economic zone "Alabuga" (Yelabuga, Tatarstan). The company moved here factories from Italy (Felisatti brand) and Spanish Casals. "Interskol" is one of the leading Russian industrial companies, which transported production to Russia with a high share of the intellectual component, Rybakov stressed through his representative. The company produces electric drills, planes, grinders, garden, snow removal, thermal equipment and so on.
The construction and purchase of equipment for the plant "Interskol" attracted foreign currency loans totaling 3 billion rubles. Due to the devaluation of the ruble, the body of loans and the rate on them doubled, the source of Vedomosti said. But the Russian plant could not begin work within a year: because of the Ukrainian crisis and the sanctions that followed, the company could not get and run high-precision equipment ordered in Europe, he continues. Only in 2015 the company was able to launch the line and start production.
Until now, all of Interskol's operating profit has been to pay interest on loans, in 2018 it's time to pay the body of the loan, the interlocutor says.
At the same time, there are no funds to support the operating activities. The company does not fulfill the plan to supply its main retailer Leroy Merlin, a person close to Interskol knows. The representative of "Interskol" does not comment on this. The representative of Leroy Merlin did not respond to Vedomosti's request.
Starting from 2014, Interskol is unprofitable. At the end of 2016 (there are no more recent data), the net loss amounted to 321 million rubles, revenue - 5.9 billion rubles.
The share of Russian power tools on the domestic market is only 20%, says Boris Goldstein, president of the Association of Trading Companies and Manufacturers of Power Tools and Small-Scale Mechanization: "In Russia, one plant that produces modern electrical equipment is Interskol-Alabuga. Some time ago the factory "Fiolent" in Simferopol also became Russian ". In his opinion, it is now important to keep Interskol's production. "The best variant of the development of events is one that will allow the plant to continue working and keep the team of professionals who created and developed the enterprise. Whether the Rybakov factory or Black & Decker will buy the main thing is to keep the production, "says Goldstein. At the plant in "Alabuga" now employs 200 people.