Deister Electronics: dedicated to product innovation

Deister Electronics is a German family business that develops products for the building security and automation sector, based on their own technology and under the belief that innovation must be the driving force behind their success. “In the early days we were a pure electronics company, sold products, installed them, but then we found out we were too easy to copy. That’s why we had to be innovative”, explains Anatoli Stobbe, CEO and co-founder of Deister.

After asking themselves what the market was missing, the company set out to develop improved digital solutions for locking systems, long-range vehicle identification, smart storage and key managing systems, among others. “Our products are mainly used to secure buildings, and what provides us a common basis for all of them is that everything is based on our own technologies”, explains Nicolas, Head of Business Development and Anatoli’s son.

In order to support product development for a new digital key system designed to replace the old analogue locks, with benefits to both safety and practicality thought it’s wireless connections and flexible programming options, Deister turned to the banks to secure the necessary financing. It eventually found it in the Deutsche Bank, backed by an EIF guarantee, but not before some difficulty.

“We had a hard time finding financing”, explains Nicolas. “The EU financial guarantee really made it possible for us.” This financing was used in everything involved with launching a new product, including expanding the team and thus creating jobs. “It financed the product’s introduction to the market from A to Z”, says Nicolas.

With nearly 40 years of experience in the electronics market and recognized expertise in security automation, Deister Electronics plans to continue its long-term growth, built upon the continuous investment in product innovation.

Company: Deister Electronics (Germany)

Type of business: Electronics

EIF financing: InnovFin SMEG

Financial intermediary: Deutsche Bank

For further information abiout EIF intermediaries in Germant, please refer to: http://www.eif.org/what_we_do/where/de