Tyrolit becomes majority shareholder of abrasive tools wholesaler
15 January 2024
Cutting and drilling equipment specialist Tyrolit Group has expanded its business via the acquisition of a wholesaler, in a move that it says will enable it to achieve “significant growth” in the Australian market.
The Austria-based manufacturer, which also owns the Radiac, Diamond Products and Bibielle brands, recently signed a deal that made it the majority shareholder of Australian company ATS (Abrasive Tools Specialists).
A wholesaler, importer and converter of abrasive tools and industrial trade products, ATS offers abrasive products both directly to the market and through a network of equipment dealers.
Thomas Frieß, CEO of Tyrolit, said: “We are thrilled about this strategic investment in ATS, which not only strengthens our foothold in the Australian market but also opens doors to new opportunities and industries. We look forward to integrating the strengths of both entities and further contributing to the success story”.
The deal aims to help Tyrolit strengthen its existing presence in the country’s construction market, and will also enable the manufacturer to upscale, increasing its customer base by making its products available through ATS’s business infrastructure.
Simon Parkinson, managing director of ATS says: “We are really excited about the opportunities this presents for us as a company but even more so for our customers, who will benefit immensely of the expansion and the synergies.”