VBG Group acquires Tüschen und Zimmermann
VBG Group’s division Ringfeder Power Transmission is acquiring the industrial brake business of Tüschen und Zimmermann. The acquisition will provide the division with access to products that complement its current product range and thereby strengthen its offering to customers.
The acquired business is estimated to contribute to Ringfeder Power Transmission's European business with a turnover of EUR 1.5 million and has an estimated EBITA margin of 20 percent.
The acquisition relates to Tüschen und Zimmermann's industrial brake business and includes product rights as well as both tangible and intangible assets used in the business. The purchase price amounts to EUR 1.3 million. The purchase agreement was signed today, 31st of August 2022, and the ownership of the assets will be transferred to Ringfeder Power Transmission 1st of September 2022.
Tüschen und Zimmermann manufactures hydraulic, electric, and pneumatic safety brakes for industrial applications. The company was founded in 1963 and is owned by Ludger Tüschen. The largest customers are to be found in Poland, Slovenia, Turkey, and the Czech Republic.
The company offers the market a certified non-sparking product range for applications in explosive environments (ATEX). The industrial brakes are used by, among other things, conveyor belts in mines and contribute to safer working conditions for people working in hazardous environments. The acquisition strengthens VBG Group’s industrial business.
“This business complements Ringfeder Power Transmission in a natural way, says division manager Thomas Moka. I see clear synergy opportunities in production as well as in sales and marketing. Furthermore, through the acquisition, we get access to a test environment for our products that we previously have lacked.”
Ludger Tüschen, owner of Tüschen und Zimmermann sees that VBG Group is the right buyer for the company.
“We share the view on quality and safety. I also see that VBG Group has the financial strength and industry knowledge required to further develop the business for brake systems”, says Ludger Tüschen.
President and CEO VBG Group Anders Birgersson is also satisfied with the deal.
“It is a minor acquisition financially for us, but from a strategic perspective the acquisition is very important. The acquisition fits well with our goal to grow as an industrial group and the products are fully in line with our ambition to create a safer society. The brake systems are unique solutions that contribute to safer working conditions in the mining industry.”
This information is such that VBG Group AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the below contact person, for publication on 31st of August 2022, at 5:45 PM CEST.
Contact
Anders Birgersson, President & CEO
Telephone: +46 521-27 77 67
E-mail: anders.birgersson@vbggroup.com
VBG Group AB (publ), domiciled in Vänersborg, is the Parent company of an international engineering Group with wholly owned companies in Europe, North America, Brazil, South Africa Australia, India and China. The Group’s operations are divided into three divisions – Truck & Trailer Equipment, Mobile Climate Control and Ringfeder Power Transmission – with products that are marketed under strong, well-known brands. VBG Group AB’s Series B share was introduced on the stock exchange in 1987 and is listed today on the Nasdaq Stockholm Mid Cap list.