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Swedish investment company Solix today acquired all shares in Terratech AB, with its subsidiaries Steelwrist and SVAB Hydraulik.
Steelwrist is today a leading player in the market for tiltrotators, quick couplers and attachments for excavators, while SVAB Hydraulik is the market leader in control systems for tiltrotators and attachments, also mainly for excavators.
The acquisition fits perfectly with Solix's strategy to acquire Nordic industrial companies with a strong product portfolio and significant international growth potential.
Terratech achieved half a billion SEK in sales in 2018 and is based in thirteen countries with its own organizations. The company's main products include tiltrotators and quick couplers, both hydraulic and fully automatic, which today are experiencing strong international growth. In addition, Terratech has several new products such as tool recognition (Toolrec), Tooltip-control and the Quantum control system platform, which, together with tiltrotators and tools, provide huge productivity increases for large excavators worldwide.
Both Steelwrist and SVAB work closely with several excavator manufacturers, and that focus on OEM companies will continue in the future.
"We have a very good and progressive cooperation with our OEM customers. Our tiltrotators and quick couplings are increasingly mounted directly on the excavator in the excavator plant for customers and this allows us to support the international expansion of our own and our OEM customers even faster. Product development together with our key customers will also remain very high on the agenda ", says Stefan Stockhaus, CEO of Terratech and Steelwrist.
