The management of Pneumatic Components Ltd. (PCL) reports that Germany's Horn Tecalemit has acquired all shares in the Sheffield-based business for an undisclosed sum.
This deal took effect on Oct. 1, and although the two companies will continue to trade independently, PCL and Horn Tecalemit say the acquisition will give both firms “access to a wider range of complementary products” and benefit customers, suppliers and company employees.
PCL and Horn Tecalemit anticipate the acquisition will open new markets for each entity. As an example, the two companies point to Horn Tecalemit’s existing strong market share in the European automotive lubrication equipment and PCL’s tire inflation market share in the U.K., where Horn Tecalemit has only a limited presence. In addition, both companies have identified India, China, and the U.S. as potential growth markets for the respective brand developments.
“In short, the products and markets of Horn Tecalemit and PCL complement each other extremely well and both management teams are extremely enthusiastic about a positive future together,” said PCL in a joint press release. (Tyres & Accessories)