Torqx Capital Partners acquires majority of Diamond Tools Group
Torqx Capital Partners (“Torqx”) is pleased to announce that it has acquired the majority of the shares of Diamond Tools Group B.V. and its affiliated companies (“DTG” or “the Company”).
As new majority shareholder, Torqx will support DTG’s management team in realizing its business ambitions and further develop and grow DTG as the leading manufacturer of ultra-precision diamond cutting and printing tools and diamond wire dies.
Erik Boom, on behalf of DTG Management, comments: “We are excited to partner with Torqx and look forward to working together to realize our plans for the Company over the coming years. We believe that DTG is very well positioned to capture further growth. Over the past months, the Torqx team has showed that they have the relevant expertise to accelerate growth and help us realize our business plans. We as management are confident and enthusiastic about what lies ahead for DTG.”
Harmen Geerts, Managing Partner at Torqx Capital Partners, comments: “DTG has established a leading global position in the manufacturing of diamond tools on the back of its proprietary production processes, superior product, and long term established partnerships with key players in its end markets. We look forward to working with the management team and our co-shareholder to further build on the Company’s leading market position.”
Marnix Berger, Partner at Torqx Capital Partners, comments: “Torqx is impressed by the market position of DTG, its track record and strong team. We look forward to supporting the Company in further strengthening its position and realizing its next phase of growth.”
DTG is a global manufacturer of diamond cutting tools and diamond wire dies, with roots going back for over 100 years. The Company is headquartered in Valkenswaard (the Netherlands) and operates further facilities in amongst others Spain, the UK, the US and China. The Company operates in two divisions: Precision Tools (headquartered in Valkenswaard) with the product lines Contour for ultra-precision diamond cutting tools used mainly in the optics market and Technodiamant for diamond tools used in the printing market. The second division Esteves (headquartered in Barcelona) manufactures diamond wire dies for the wire and cable drawing industry. The Company employs ca. 460 employees. For more information, please visit www.diamondtoolsgroup.com