Energofish: Acquisition proves there is huge hidden potential in ‘great’ small businesses

In a refreshing take on an industry perhaps too often dominated by high profile acquisitions and consolidation, Istvan Pál has a message for the many small and medium (SME) businesses that populate Europe: “You have an important future in the fishing tackle industry.”

The CEO of Hungarian tackle and bait company Energofish (on right, main image) is passionate about a sector that he feels is too often overlooked, but which he believes brings so much to the trade.

“I strongly feel this is an area that has been neglected by distributors and retailers looking for good products,” he continues. “And yet it is the source of so many different, great ideas and technologies.

“SMEs should be given the chance to continue and flourish and companies should pay more attention to looking for these businesses across Europe.”

And as proof of its commitment, Energofish recently bought the brand, technology and machinery of Technomagic, a fellow Hungarian business, to prevent the 33-year-old company from disappearing.

Technomagic was founded a year before Energofish by two enthusiastic anglers with ideas for an innovative bait range. The company succeeded and grew to 15 people. Now in their seventies, the founders wanted to retire but were reluctant to see what they had built fade into oblivion.

“We have worked with them from the start and became responsible for a third of their sales,” explained Pál. “They are one of many small manufacturers that we work with and for some of them we are their only sales channel.

“When they decided to retire they were very concerned that their lifetime’s work would be lost. We felt it was important that what they had built should be continued.”

And in an insight into his company’s future strategy, he added: “This is an indication of how we plan to grow. We will continue to expand organically but also by the acquisition of small companies that bring something new and good to our offering.”

It’s a viewpoint that accounts for Pál’s enthusiasm for the Angling International LIVE trade show coming up in September of this year: “There will be lots of SMEs exhibiting at the show, so it will be the perfect platform for visitors to meet them and do business.”

Companies who wish to register for the show, and take advantage of the free promotional support offered by Angling International before, during and after the event, can do so at https://angling-international-live.com

ABOUT TECHNOMAGIC

Technomagic has around 50 SKUs in its range, with the two main products being Floating Balls and Pressed Baits.

Floating Balls are designed to add buoyancy to the hook so that is floats up off the bottom of the lake or river and represent 50% of the company’s business. They can be flavoured and coloured to complement the bait and are especially popular among Eastern European anglers who use traditional bottom fishing methods.

Pressed Baits are a favourite bait for catching Chinese carp, a species that can reach weights of more than 50 kilos. Secret components are pressed and special flavours added. Perfected over years, the baits dissolve over a period of around 20 minutes, creating an attractive cloud in the water.