Nearly 2,000 Panasonic workers in Slovakia are set to get a new employer after the Japanese group agreed to sell part of its European business to two investment firms.
Midas Atlantic Partners, together with US-based The Najafi Companies, will acquire the European division that includes Panasonic Industrial Devices Slovakia, which operates plants in Trstena in northern Slovakia and Stara Lubovna in the north-east.
The transaction is expected to be completed on February 1, 2027, subject to regulatory approval.
The European business is headquartered in Luneburg, Germany, and generated revenues of about EUR 413 million in the financial year ending in March.
The sale does not mean Panasonic is leaving Slovakia.
Before the deal is completed, operations excluded from the transaction will be transferred to a new Slovak company that will remain wholly owned by Panasonic.
These include film capacitors, low-voltage DC/DC converters for the automotive industry, voltage stabilisers, and Panasonic Energy battery packs.
Panasonic Industry, a subsidiary of Panasonic Holdings, said the sale was part of its decision to concentrate on its core businesses.
“We are pleased to partner with Midas Atlantic and The Najafi Companies, and are convinced we have found the right home for the Business,” Panasonic Industry strategy chief Ryo Kitaori said in the company’s announcement.
Panasonic Industrial Devices Slovakia employed about 1,960 people last year and generated EUR 566.8 million in revenue, with a profit of EUR 15.8 million.
The financial figures are reported by the company data service FinStat, based on the company’s 2025 accounts.
The ownership change follows Samsung’s recent decision to end production in Galanta, western Slovakia, and represents another significant change in the country’s large electronics industry.
Midas Atlantic is a private-equity investor rather than an electronics manufacturer.
Founded in 2024, it specialises in corporate carve-outs – businesses separated from larger corporate groups – restructurings and so-called “special situations”, including businesses undergoing transformation or temporary difficulties.
Its partner in the Panasonic deal is The Najafi Companies, an investment firm controlled by Iran-born US billionaire Jahm Najafi.
Unlike conventional private-equity funds, Najafi says his company invests its own internally generated capital, allowing it to hold investments through different economic cycles.
Forbes estimated Najafi’s fortune at about $1.7 billion in August.
According to Najafi, the Panasonic acquisition is the third transaction Midas and The Najafi Companies have undertaken together.
Midas previously acquired education technology company EVERFI from Blackbaud around the turn of 2024 and 2025. Blackbaud sold the business for nominal cash consideration after recording $390.2 million in impairment charges related to it. (The Slovak Spectator)