Homag acquires System TM
2 November 2020The Homag Group has intensified its activities in the new market division Construction Elements Solutions by acquiring 80% of the shares of the Danish engineering and manufacturing company System TM A/S.
System TM is a leading supplier of optimisation and systems solutions for the timber processing industry. In 2019, the company, which has 130 employees, generated an annual turnover of around €30m.
Homag’s new Construction Elements Solutions division will combine timber production and processing technology along with the company’s existing activities. Earlier this year, Homag increased its stake in Weinmann to 100%.
"We want to become a system supplier for the complete process chain in the area of construction elements, including cross-laminated timber (CLT),” said Pekka Paasivaara, Homag CEO. “We are already in a good starting position. With System TM, we are acquiring an experienced, leading manufacturer with high-end products and a high reputation in project implementation."
"The business models of System TM and WEINMANN support the strategic goals in the area of sustainability,” said Markus Vöge, senior vice-president sales and marketing. “With wood as a renewable raw material, we can achieve eco-friendly buildings and healthy living environments. Additionally, the strategic partnership with Hundegger, which was initiated in 2019, will remain an important component of our new business segment.”
"The company founders and former majority shareholders, Poul and Ingrid Thøgersen, have decided that now is the right time to retire, and to bring the ownership to new shareholders, who believe in the business philosophy of System TM and support the positive development of the company further on,” said Jan J Samuelsen, CEO of System TM.
“HOMAG is the ideal partner for us, because next to our existing business in cross-cutting and finger-jointing solutions, it will enable us to expand into the area of CLT. We see a good growth potential in this business segment. The new setup for us is a logical step as we have already been co-operating with Homag in North America very successfully.”
In the future, the Homag Group expects the new business segment to extend economic potential from a double-digit million euro level to a low three-digit million euro range. Additional synergies in the technological field as well as in purchasing are expected.
