Swedish seal technology firm Trelleborg has, through its Trelleborg Wheel Systems business area, signed an agreement and finalised the acquisition of the New Zealand company TRS Tyre & Wheel Ltd, owned by Bapcor Group. Terms were not disclosed.
The company is a distributor of tyres for agricultural, material handling and construction vehicles in New Zealand. It specializes in tyres and complete wheels for tyre and tractor dealers.
The company is located in Wanganui, New Zealand, and has operations in four other locations within the country. Annual sales amounts to approximately SEK160 million. This bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments.
“A local presence and global reach are key drivers in our business strategy. This acquisition provides us with an excellent opportunity to enhance our sales of tyres for agricultural, material handling and construction vehicles, as well as complete wheels in an attractive and growing market,” says Paolo Pompei, President of the Trelleborg Wheel Systems business area.
The transaction will be consolidated as of July 1, 2018.
The Trelleborg Group has annual sales of about SEK32 billion and operations in about 50 countries. The Group comprises five business areas: Trelleborg Coated Systems, Trelleborg Industrial Solutions, Trelleborg Offshore & Construction, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap.