CTS agrees to acquire TECS International

CTS has signed an agreement to acquire TECS International Holding and TECS Netherlands, effective January 1, 2020. The acquisition includes the TECS offices in The Netherlands, Malaysia, Singapore and Indonesia. 

“This acquisition is realised by the shareholders in both companies as they are convinced it will ensure the best possible future support for our customers,” CTS said in a statement.

CTS will continue all TECS-activities with respect to aluminium domes, tank seals, internal floating roofs and other storage tank related product lines and services.

As of January 1, CTS Netherlands or another local CTS Group company will execute orders and contracts awarded to TECS Netherlands or other TECS entities under the agreed terms and conditions. CTS will also be supporting any pending quotations as issued by TECS before this date.

Gert van Meijeren as current shareholder and CEO of TECS will obtain a shareholder position in CTS, after having been responsible for founding and developing CTS since 2004. With immediate effect Gert van Meijeren will also be appointed as CEO for the CTS Groupo. Jacco van der Kamp, the current CEO of CTS, will step down.

For more information visit www.tecs-nl.com, www.ctsgroup.com

3rd December 2019