Solix acquires Terratech, Steelwrist and SVAB HydraulikPublished 27/6 at 16:54
The Swedish investment company Solix has recently acquired all shares in Terratech AB, Steelwrist and SVAB Hydraulik companies.
Steelwrist is considered to be a world leading player in the market for tiltrotators, quick couplers and work tools for excavators, while SVAB Hydraulik is focused on control systems for tiltrotators and work tools, mainly for excavators. Terratech AB is today established with its own operations in 13 countries. Among the company’s main products are tiltrotators and quick couplers, both hydraulic and fully automatic, which today enjoy strong international growth. In addition, Terratech has launched several new products including Tool Recognition, Tool Tip Control and the Quantum control system platform, whilst Steelwrist and SVAB work closely with several excavator manufacturers.
The acquisition will focus on the opportunities to further develop the OEM business of the companies. “We have a very good and forward thinking cooperation with our OEM customers,” says Stefan Stockhaus, chief executive of Terratech and Steelwrist. “Our tiltrotators and quick couplers are increasingly mounted on the excavator directly from our customers’ excavator factory, and with this we are able to support our own and our OEM customers’ international expansion even faster. Also product development together with our most important customers will continue to be very high on the agenda.”
The acquisition of the companies is part of Solix’s strategy to acquire Nordic industrial companies with a strong product portfolio and with significant international growth potential.