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Dacke Industri further strengthened its European presence by acquiring 100% of the shares in Tufcot Engineering Ltd, a British engineering and manufacturing company that offers customized composite solutions for industrial components.
The acquisition of Tufcot is an important strategic milestone that strengthens our European position and broadens our offering within industrial companies with solutions in power and motion applications. The company will become part of the Power & Motion division where their expertise will contribute to developing the group's collective know-how and driving innovative collaboration within the organization.
Tufcot specialise in the development and production of composite materials and engineered components. They primarily manufacture bearings, bushings, wear rings and other machine parts used in a range of global industries, including marine, automotive, rail, hydraulics and many other market segments. They offer first-class products combined with exceptional service. The company is headquartered in Sheffield, South Yorkshire, UK. Tufcot employs approximately 55 people and has an annual turnover of approximately £5.25 million.
"I would like to thank the entire team at Dacke Industri for a smooth sales process and transition from my ownership to theirs. I am very pleased that we managed to reach an agreement with a company that wants to build on Tufcots' success over the past 44 years. I am confident that Tufcot has a strong and stable management team and committed employees, which will contribute to continued success," says Elvin Majchrzak, Founder and former owner of Tufcot Engineering Ltd.
"From our first meeting with Dacke Industri, we realized that they were the right partner for Tufcot and to continue our history of growth, investment and development. Dacke Industri's strategic approach to acquisitions and their belief in continuing to build a strong company/brand were crucial factors in our collaboration. We are really looking forward to starting working together with Dacke Industri and seeing where we can develop next," says Greg Majchrzak, CEO of Tufcot Engineering Ltd.
“We are very pleased to welcome Tufcot to our group as part of our continued strategic expansion in Europe. With their market-leading expertise and high-quality composite solutions, they are a perfect addition that fits well with our ambition to grow and strengthen cooperation within the group. By bringing Tufcot on board, we create new opportunities, can offer even greater value to our customers and accelerate our growth in Europe,” says Mikael Lundgren, President Power & Motion division for Dacke Industri and Chairman of the Board of Tufcot Engineering Ltd.
We are Dacke Industri
Dacke Industri is a long-term owner that develops and invests in innovative technology companies, preferably with a focus on customized components and systems. We provide industrial know-how, a strong network and maintain an entrepreneurial environment in our companies. The companies have a very high degree of independence and are run decentralized.
Our companies have their own products or systems with a strong technical focus, development and design expertise, and quality execution. Several of our companies use existing platforms for innovation and are happy to work with environmentally sustainable products and production.
Dacke Industri has been owned by Nordstjernan since January 2016 .
Today, Dacke Industri has 31 subsidiaries within four divisions, approximately 1,800 employees worldwide and a turnover of SEK 4.8 billion.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
