HOLMBERGS SAFETY SYSTEM HAS SIGNED AN AGREEMENT TO ACQUIRE TE-ROX
Holmbergs Safety Group has acquired Te-Rox, based in Romania. Te-Rox is a leading European producer of covers and harness systems for child safety seats. Holmbergs Safety Group now supplies critical safety systems to more than 13 million child safety seats annually and continues to deliver on its mission to save lives, reduce injury and mitigate damage in vehicles. The acquisition provides Holmbergs with a platform for continued growth as well as the ability to serve its customers with local and swift production. Furthermore, the sellers will become shareholders of Holmbergs and continue to operate the business as well jointly pursue new business opportunities together with Holmbergs.
Anders Sandell, CEO, Holmbergs Safety Group:
“I am very happy to make this announcement and am confident that this will further enhance our capabilities to serve both existing and prospective customers. We are very impressed by Te-Rox and its management team and see a strong strategic fit between us, with multiple future interesting business opportunities. Most importantly, we want to welcome Te-Rox to the Holmbergs family and we are looking forward to start working with our new colleagues at Te-Rox”
Doina Cepalis, Managing Director, Te-Rox:
“I am very happy to be part of the Holmbergs team and family. I am sure that their expertise on the market, together with the values and principles they hold, will help Te-Rox to become a stronger partner for our current clients and a platform from which we can grow and evolve. I am certain that Te-Rox will be the stable production company and expansion point that will help our new colleagues obtain new clients and new business opportunities.”
Holmbergs is an innovative global market leader in the growing niche markets of safety products and systems for child safety seats, as well as for other transportation niches. Holmbergs pro-forma sales now exceeds SEK 740 million, compared to SEK 325 million in 2017 when FSN Capital V made its initial investment. In partnership with FSN Capital, Holmbergs aspires to continue to grow its North American and European business through capturing the positive underlying market growth and gaining market share. In addition, Holmbergs intends to accelerate its growth in Asia and other less mature markets that are expected to grow rapidly as stricter regulations are enforced and safety awareness improves. Finally, the company intends to continue its focus on developing innovative industry leading safety solutions as well as selectively pursuing inorganic initiatives.
For more information, please contact:
Anders Sandell, CEO, Holmbergs Safety System Holding AB, +46 70 692 58 02
Diona Cepalis, Managing Director, Te-Rox, +4 0756 166 290