Elemaster

What Elemaster does

Elemaster SpA Tecnologie Elettroniche is an Italian-headquartered, privately held provider of vertically integrated Electronic Manufacturing Services (EMS), Original Design Manufacturing (ODM) and Turnkey Mechatronics solutions for high-reliability industrial customers. Founded in 1981 in Lomagna (near Milan), the group operates across four service pillars - ODM (concept, co-design, hardware/software development, prototyping, certification), CUSTOM (PCB production via Eleprint and wiring via the Romania facility), EMS (SMT/THT assembly, parametric and functional testing, conformal coating, potting), and TURNKEY (assembled and tested mechatronics products) - delivered through a dedicated WorkCell model in which each customer receives an embedded Project Manager, Quality Manager and production team.

The company serves safety-critical and regulated sectors where component qualification, certification (IRIS, AS9100, NADCAP, ISO 13485, IATF 16949, ISO/IEC 17025) and long product lifecycles matter most: railways and transportation (its strongest vertical, where it claims to be the main EMS partner in the European rail sector), medical and healthcare, automation and energy, aerospace and defense, automotive/high-tech mobility, and telecom/satellite/security (with RF capabilities exceeding 100 GHz via CR&C and GreenWaves). Engineering is concentrated in International Design Centers (over 100 engineers across hardware, software, EMI, and test disciplines) and Eletech labs that hold ISO/IEC 17025 accreditation for EMC, climate, isolation, vibration and shock testing.

Commercially, Elemaster uses an enterprise field-sales, RFQ-driven B2B model with custom project pricing. The group's footprint spans Italy (HQ, Eleprint, Eletech, CR&C, prototypes facility, mechatronics), Germany (DACH engineering center since 1984), Belgium, France, Romania, China (Shanghai with IRIS certification), India (now via the Syrma SGS Elemaster JV established in 2025-2026), the United States, and Africa (Eleonetech). Revenue is generated through hardware sales (EMS/Custom/Turnkey) and professional services (ODM, repair/remanufacturing via CR&C, logistics/after-sales), with growth in 2025-2026 anchored by the Syrma JV targeting ₹200-400 crore in the Indian rail/industrial/medical market.

Name

Elemaster

Legal name

Elemaster SpA Tecnologie Elettroniche

Website

https://elemaster.com

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Elemaster is a privately held Italian electronics manufacturing services group providing vertically integrated EMS, ODM and turnkey mechatronics solutions for high-reliability sectors including railways, medical, aerospace, industrial automation, and automotive through a global footprint of subsidiaries.

Ownership category

akta.pro rank

Product category

Electronic Manufacturing Services (EMS)

NAICS

Electrical Equipment Manufacturing (33531), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451), Electronic and Precision Equipment Repair and Maintenance (811210)

SIC

Electrical Industrial Apparatus (3620), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Instruments For Meas & Testing Of Electricity & Elec Signals (3825)

akta.pro primary industry

Industrial Electronics Manufacturing Services (EMS) (IMAGAGAA)

akta.pro secondary industries

Ruggedized/Harsh-Environment Electronics Manufacturing (IP-rated, shock/vibration, wide-temp) (IMAGAGAF), Test, Measurement & Calibration Equipment Manufacturing Services (ATE, DAQ, metrology electronics) (IMAGAGAH)

Keywords

• Electronic manufacturing services
• Original design manufacturing
• Printed circuit board assembly
• Mechatronics equipment production
• Contract electronics manufacturing

Headquarters

HQ city

Lomagna

HQ country

Italy

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. EMS - Electronic Manufacturing Services: Manufacturing services including SMT and THT assembly, testing (parametric and functional), conformal coating and potting, full control of supply chain from component purchase to global logistics
2. ODM - Original Design Manufacturing: Full product lifecycle from planning, design and co-design (DFT, DFM, DTC) to rapid prototyping, hardware and software development, industrialization, NPI and mass production
3. CUSTOM - PCB & Wiring: Custom printed circuit board and wiring production through specialized divisions Eleprint (PCBs) and Elemaster RO (wirings)
4. Turnkey Solutions - Mechatronics: Fully assembled and tested products covering fluidics, optics, photonics, micromechanics and chemistry applications
5. Repair and Remanufacturing: Through CR&C: electronics boards repair, PCA reworks, remanufacturing, RF and digital board assembling, testing, failure analysis, reverse engineering
6. Logistics and After-sales Services: Worldwide shipping, buffer stock, consignment stock services, ESD packaging, customized packaging

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Elemaster Group provides vertically integrated electronics manufacturing services (EMS) covering the full product lifecycle: ODM (Original Design Manufacturing) through International Design Centers with over 100 engineers for R&D, hardware/software development and validation; CUSTOM PCB and wiring production via the Eleprint division and Elemaster RO; EMS including SMT and THT assembly, testing, conformal coating and potting; and Turnkey Solutions delivering fully assembled and tested mechatronics equipment. The group serves high-reliability sectors such as railways, medical, industrial automation, aerospace and defense.

Product overview

Elemaster Group is an electronics manufacturing services (EMS) provider offering a comprehensive portfolio organized into four core service lines: ODM (Original Design Manufacturing) through International Design Centers with over 100 engineers for R&D, product development, and validation; CUSTOM for PCB production via Eleprint division and wiring via Elemaster RO; EMS for electronic board manufacturing including SMT/THT assembly and testing; and TURNKEY SOLUTIONS for fully assembled mechatronics equipment. The Group operates subsidiaries including Eletech (design/validation labs), CR&C (remanufacturing/repair), and GreenWaves (RF/microwave solutions), with manufacturing facilities across Europe (Italy HQ, Germany, France, Romania), Asia (India, Shanghai), USA, and Africa. The company also formed Syrma SGS Elemaster Private Limited joint venture in India in 2025 to serve high-reliability sectors including railway, industrial, and medical electronics.

Differentiator

Problem solved

Functional benefit

Brands

• Eleprint: Division specializing in printed circuit board (PCB) production from rapid prototyping to mass production
• Eletech
• Eleonetech
• Elevo Innovation Hub
• Eletech (Obsolescence Management)
• CR&C
• MVM (Milano Ventilatore Meccanico)

Products and services

• ODM (Original Design Manufacturing) End-to-end electronic R&D service covering feasibility studies, design, certification (industry standards and SIL) and transfer into production. Includes hardware and software development using best EDA tools, design for testability/manufacturability/cost, rapid prototyping and NPI, supported by International Design Centers with over 100 engineers.
• CUSTOM - PCB & Wiring Custom PCB production through the Eleprint division and wiring production through Elemaster RO in Romania, covering rapid prototyping to large volume production for electronic equipment manufacturers.
• EMS - Electronic Manufacturing Services Electronic board manufacturing services including SMT and THT assembly, parametric and functional testing, conformal coating and potting, with full control of the supply chain from component purchase to global logistics delivery.
• TURNKEY SOLUTIONS - Mechatronics Equipment Fully assembled and tested mechatronics products using the WorkCell organizational model with dedicated teams for each customer, covering fluidics, optics, photonics, micromechanics and chemistry applications.
• Logistic & After-sales Service

Named customers6 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• Syrma SGS TechnologycoreStrategic or Co-development Partner · 1 September 2025Joint venture established September 2025 to create Syrma SGS Elemaster Private Limited, a dedicated India-focused platform for high-reliability customers in railway, industrial, and medical electronics sectors. Syrma holds 60% stake with approximately ₹33 crore investment. The partnership combines Elemaster's engineering expertise and European OEM relationships with Syrma's Indian manufacturing scale. Facility of approximately 20,000 sq. ft. at Bommasandra Industrial Area, Bengaluru with SMT, THT, and box-build assembly lines. Targets revenue of ₹200 crore for FY27E and peak revenue of ₹400 crore by FY28E.
• GreenWaves SrlcoreOthers · 1 January 2013Partner company of Elemaster Group founded in 2013, based in Burago di Molgora (MB). Specializes in design, testing and manufacture of bespoke solutions in RF, microwave and radar sectors. Capabilities include RF equipment design over 100 GHz, antenna arrays, power amplifiers including software and firmware, and advanced testing solutions.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Cicor Technologies: Swiss-headquartered EMS/ODM group serving medical, industrial, aerospace & defense customers across Europe. Highly comparable business model and end-market mix to Elemaster, with similar emphasis on regulated, high-reliability electronics.
• Note AB: Swedish EMS provider with multi-site European footprint serving industrial, medtech and defense customers. Closely mirrors Elemaster's profile of mid-sized, multi-vertical high-reliability EMS with in-house design and prototyping.
• Kitron ASA: Norwegian EMS serving defense, aerospace, energy, medical and industrial automation sectors with sites in Northern and Central Europe, plus USA. Directly comparable customer verticals and high-reliability positioning.
• Scanfil plc: Finnish-listed EMS with manufacturing in Europe and Asia serving industrial, energy, automotive and medtech customers. Comparable size, vertical mix and demand for cross-border manufacturing footprint.
• Hanza Holding: Swedish EMS with multiple European production sites offering complete manufacturing solutions including mechanics and electronics. Similar mid-market scale and industrial/medical customer focus to Elemaster.
• Neways Electronics International: Dutch EMS/ODM serving semiconductor, industrial, automotive and medical customers. Strongly comparable in size, vertical mix and emphasis on European high-mix industrial customers.
• Variosystems: Swiss-based EMS with global manufacturing footprint (Switzerland, USA, China, Sri Lanka) serving industrial, medical, aerospace and defense customers. Closely comparable size and end-market profile to Elemaster.
• Creation Technologies: North American mid-market EMS with locations in USA, Canada, Mexico and China serving industrial, medical, aerospace/defense and communications customers. Comparable mid-sized, high-reliability positioning.

Emerging players

• Syrma SGS Technology: Indian EMS that holds 60% of Elemaster's India JV (Syrma SGS Elemaster). Comparable in services (PCB assembly, box-build, ODM) but operating in adjacent geographies and a partner/competitor in the broader EMS market.

Broad incumbents

• Sanmina Corporation: Global tier-1 EMS with broad industrial, medical, aerospace/defense and communications customer base. Competes with Elemaster on high-reliability programs but at materially greater scale and geographic reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC50B19YusZD3n1kiZp7pvSA
• LinkedInlinkedin.com/company/elemaster-tecnologie-elettroniche
• Instagraminstagram.com/elemastergroup

Compliance14 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries14 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elemaster