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HYTOR expands strategically,
acquires majority stake in TS TECH
HYTOR Group, led by owner Niels G. Langerhuus, takes over the majority share of TS TECH from Eltronic Group, and thus TS TECH is back in local hands. "With TS TECH as part of the family, we strengthen the cooperation that has been built up over recent years, where TS TECH delivers electrical technical solutions and control panels for the system solutions and emergency power solutions that HYTOR provides to the energy sector," explains Niels G. Langerhuus, confirming that the strategic acquisition is an important step in the ambition to become an even stronger preferred supplier to the energy sector.
A close cooperation over a long period and a shared objective of standing stronger in the green energy forms make the joint ownership ideal. "A strengthened collaboration makes it possible for us to offer increased value to the energy sector,” states Niels G. Langerhuus, and continues, "the solutions that we currently can offer to the wind sector and also to Power-to-X, by virtue of our partnership A2X, will now become even stronger, since the electrical technical part of these solutions will also become part of the HYTOR Group."
An increased familiarity with each other, recently a close cooperation at the board level, and collaboration between HYTOR and TS TECH over the years, have revealed many advantages for a range of stakeholders through joint ownership. "
At TS TECH, it has been a declared goal to gain a much larger foothold within solutions for green energy forms, where we have primarily focused on the wind segment until now, but with this collaboration, it becomes possible to develop even better solutions that contribute to the green transition," declares CEO Thomas Sandholdt of TS TECH, and adds, “the strategic direction and the foundation we at TS TECH have worked with over the past 6 years as part of the Eltronic Group fits very well into the journey HYTOR Group is on.
It is well known that in Esbjerg, there is a shift among the companies that have, for many years, offered services to the offshore industry. We believe that one of the opportunities to remain attractive while strengthening and expanding our portfolio is to engage in partnerships and consolidations.
Here, I am delighted that we have succeeded in bringing together two companies that are each very strong in their respective fields. TS Tech becomes part of the HYTOR family, with HYTOR Group having taken over the majority share of TS TECH as of April 28, 2022.
TS TECH continues as an independent company with its own management.
Since its establishment in 2009, TS TECH has developed a strong position within the technical and electrical installation industry, demonstrating a unique commitment to green transformation, primarily in wind and Power-2-X. The company has a significant market presence in most of Europe, as well as Taiwan, China, Japan, and the UK.
Additionally, TS TECH holds the majority stock in EA Automatic, which designs and delivers control panels. TS TECH and EA Automatic currently employ 80 individuals. Moving forward, TS TECH, as well as EA Automatic, will become part of the HYTOR Group, transitioning from ownership under Eltronic Group A/S, where they were one of 11 subsidiaries. The Eltronic Group A/S is a conglomerate that houses 1000 employees and has a turnover of 1 billion DKK.
HYTOR Group houses the activities of HYTOR Tools Solutions and HYTOR Fluid Solutions. As a group, they deliver customized technical system solutions and components, as well as generators, specialized tools and tool solutions for the energy sector and other demanding industries, both nationally and internationally.
HYTOR took ownership of eptools in 2016, which, in 2019 was merged with the wind activities in HYTOR, now operating under HYTOR Tools Solutions, a subsidiary of HYTOR Group. Furthermore, through the partnership with A2X, HYTOR has most recently strengthened its position in Power-2-X. HYTOR Group is owned and managed by CEO Niels G. Langerhuus and currently employs 65 staff.
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