Germany – The Munich-based VTC Group has acquired a 70% interest in fellow German firm S+S Separation and Sorting Technology GmbH of Schönberg. The objective of the deal for the former shareholders is to ensure the successful growth of the business and the development of its management structure.
S+S was bought out of the Hoesch-Krupp Group some 18 years ago by Paul Dittrich, Franz Greipl, Helmuth Frisch and Karl Eibl. Under the latest agreement, Mr Frisch and Mr Eibl will continue in their roles as executive managers of S+S and will further develop the company in concert with the new partner.
S+S is a world leader in the development and manufacture of detection, separation and sorting systems with applications in a wide range of industries, including recycling. Founded in Schönberg in 1976, S+S has gone on to establish subsidiaries in Singapore, China, the USA, the UK and France although all its products are developed, designed and largely manufactured in Germany. Almost 60% of these products are exported globally, helping to create worldwide sales in excess of Euro 30 million last year.
VTC is owned by four private partners whose objective is to achieve profitable growth within its portfolio while maintaining economic independence. With a presence in five technology business segments and a total workforce of 2000, the group generates an annual turnover of around Euro 400 million in infrastructure equipment, power supply, machinery and capital plant.
Mr Frisch says of this new phase for S+S: ‘We have a very healthy company that is ideally positioned for the future. For S+S, the integration into the new group not only forms the basis for corporate progression but creates a springboard for further growth and provides the investment that such growth requires both in Germany and worldwide.’