Torqx Capital Partners reaches agreement on the acquisition of a part of the industrial connectivity activities from TKH Group
Torqx Capital Partners (“Torqx”) is pleased to announce that it has reached agreement with TKH Group NV (“TKH”) with regards to the incorporation of a Newco that will acquire the shares of a major part of the TKH industrial connectivity activities. The new company will be called Cable Connectivity Group and is active in the production, distribution and assembly of cable connectivity solutions. TKH will become a minority shareholder in the new group, which will comprise the operating companies Jobarco BV, Pantaflex BV, Capable BV (the Netherlands), TKD Kabel GmbH, Schrade Kabel & Elektrotechnik GmbH (Germany), TKH Kabeltechniek Sp.z.o.o. (Poland) and KC Industrie Srl (Italy). The operating companies will continue to operate under their own name.
Alexander van der Lof, CEO of technology company TKH, comments: “We have found a good environment for the operating companies concerned that will guarantee the continuity, but also offers opportunities for further growth and improvement of the profitability of the industrial connectivity activities. Torqx is a solid party with a proven track record who will offer a reliable environment for the employees, suppliers and customers. Together we will ensure a quick and smooth transition, as we also stay involved as minority shareholder and business partner, and can support where necessary.”
Harmen Geerts, Managing Partner of Torqx, comments: “We are delighted to announce this partnership with TKH where Torqx will take the driving seat to develop the newly formed Cable Connectivity Group in a coherent group of businesses active in the production, distribution and assembly of cable connectivity solutions. We see good opportunities to realize commercial synergies between the operating companies and to accelerate sales of the group. We will actively support the business in its further development and the realization of its full potential.”
Technology firm TKH is focused on high-end innovative technologies in high growth markets within three business segments: Telecom, Building and Industrial Solutions. Through a combination of technologies, TKH offers superior solutions that support to increase the efficiency, safety and security of its customers. The technologies are offered together with software to create smart technologies and one-stop-shop solutions with plug-and-play integrated technologies. TKH operates on a global scale. Its growth is concentrated in Europe, North America and Asia. Employing 6,533 people, TKH achieved a turnover of € 1.6 billion in 2018. For more information please visit www.tkhgroup.com