technotrans AG takeover of gwk, Meinerzhagen

Acquisition of a majority interest of 98 percent / Substantial synergy potential in the technotrans Group / Expansion into market for plastics engineering

Sassenberg/Meinerzhagen, August 16, 2016 – technotrans AG is acquiring a majority interest of 98 percent in the share capital of gwk Gesellschaft Wärme Kältetechnik mbH. The agreements were announced today, Tuesday. The purchase price is in the low double-digit millions; it is to be financed both with equity capital and with borrowed capital. The transaction is due to be completed in the coming weeks. Through the acquisition, technotrans AG is stepping up its activities in the plastics area. As a result of this move, the company is significantly strengthening its position in the overall market for temperature control solutions. 

“With the takeover of gwk, we are accessing further attractive growth areas and creating substantial synergy potential within the technotrans Group,” declared Henry Brickenkamp, Chief Executive Officer of technotrans AG. The company is acquiring a majority interest of 98 percent in the share capital of gwk from COEO Holding GmbH, which is headquartered in Meinerzhagen. The parties have agreed not to disclose financial details of the transaction.

This takeover means that technotrans’ strategic objective of earning 50 percent of consolidated revenue outside the printing industry in the medium term has now already been achieved. gwk, based in the Sauerland town of Meinerzhagen, generated revenue of some EUR 45 million in the past financial year and has around 380 employees. The company and its established brand are to retain their independent identity.  

“All areas of the group will benefit from the transaction,” stressed Brickenkamp. He added that gwk’s portfolio ideally complements the solutions currently offered by technotrans. The company supplies products and services for industrial cooling and temperature control. These include particularly temperature controllers for a variety of applications in plastics engineering, specifically for the injection moulding process. It also supplies custom temperature control machines and chillers for machine manufacturers and users in a wide range of application areas, turnkey energy-saving industrial cooling plants and products for water treatment and tool cleaning.

“As part of the technotrans Group, we will be able to access the international network of sales and service locations and build on our customer ties to give our competitiveness a further boost,” explained Helmut Gries, Sales and Marketing Director of gwk.
“The scope for further development of our products within the group offers huge opportunities,” added Dr Michael Zaun, Technical Director. The customers of gwk Gesellschaft Wärme Kältetechnik mbH, founded in 1967, include leading players in the plastics processing industry, plastic machine manufacturers, plant engineering companies and also companies from the automotive, packaging, chemical and food industries.