Spilling the Beans
Group Severgrupp offloads the previous Bosch factory site
In a surprising turn of events, the old Bosch plant situated in the Saratov region has found a new owner. Whispers in IT circles suggest that the deal was made to benefit certain structures within the Softline group, though the company denies any connection. On the other hand, Softline Venture Partners, an investment fund established by Softline, has admitted to the purchase, claiming it was done on behalf of third parties. Interestingly, while Softline Venture Partners was created by Softline in 2008, it is currently not associated with the group[2].
Rumors of the sale first surfaced in April 2025, with speculations pointing towards "Interskol," a group specializing in power tool development and production, as a potential buyer. The former Bosch plant was moved under Severgroup's control in the fall of 2024, after being owned by S8 Capital[3]. It's worth noting that before this, Alexei Mordashov's company had acquired the assets of tire manufacturer "Cordiant" from S8 Capital[4].
In 2023, the company, then known as Engels Electrotools, employed 159 people and generated a revenue of 632 million rubles, according to RBC data from Rusprofile, but reported a net loss of 206 million rubles. Bosch temporarily halted operations at its Russian plants, including the one in the Saratov region, in March 2022 due to the start of Russia's special operation in Ukraine and the imposition of anti-Russian sanctions. The Leningrad plant was given to Gazprom Bytovye Sistemy, the Samara plant was bought by NAMI, and the Saratov assets were acquired by S8 Capital[5]. However, in mid-April 2025, Bosch declared that the company has no business relations with Russia and has no plans to change this[6].
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The manufacturing industry saw a significant shift in the Saratov region as Softline Venture Partners, an investment fund, purchased the old Bosch plant, acting on behalf of third parties. This move, which is independent of Softline Group, could potentially impact the financial landscape of the power tool development and production business.
