Purchase of the outstanding 35 percent / Total acquisition of holdings in Germany, China and Singapore / Purchase price in low single-digit millions
technotrans AG has increased its shareholdings in each of the companies KLH Kältetechnik GmbH (Bad Doberan), KLH Cooling International Pte. Ltd. (Singapore) and Taicang KLH Cooling Systems Co. Ltd. (PR China) by 35 percent, bringing them all up to 100 percent. The signing of the agreements took place yesterday, Thursday. The purchase price in the low single-digit millions is being paid in cash.
“The full takeover of the holdings in the KLH companies represents a logical move for us,” declared Henry Brickenkamp, Chief Executive Officer of technotrans AG. Joint activities with KLH Kältetechnik GmbH began in 2012 and rapidly developed into an exceptionally fruitful partnership. One year later, the supplier of liquid technology applications acquired majority interests of initially 65 percent in each of KLH Kältetechnik GmbH and the two sister companies in Singapore and China. The participating interests have since been included in consolidation by technotrans AG. Yesterday’s transaction means all shares are now held by the group.
“technotrans and KLH ideally complement each other. The successful integration of the business into the laser cooling area and the full takeover now unlock further potential for both parties,” stressed Brickenkamp. He added that the technotrans Group had recently significantly reinforced its market position for laser applications through the acquisition of KLH Kältetechnik and developed into a “full liner” for laser cooling. The Taicang location moreover paves the way for expanding China business, a strategically important move for the entire group.
The KLH companies generated revenue of around EUR 20 million in the 2015 financial year and currently have around 125 employees. KLH Managing Director Annika Kramer-Selck will remain involved in the successful development of the company in her established role.