The deal was signed at the end of October and was completed in late November after fulfillment of conditions precedent.
The Romanian company was assisted by law firm RTPR.
“I am very happy to be part of the Holmbergs team and family. I am sure that their expertise on the market, together with the values and principles they hold, will help Te-Rox to become a stronger partner for our current clients and a platform from which we can grow and evolve. I am certain that Te-Rox will be the stable production company and expansion point that will help our new colleagues obtain new clients and new business opportunities,” said Doina Cepalis, Managing Director, Te-Rox
The acquisition provides Holmbergs with a platform for continued growth as well as the ability to serve its customers with local and swift production. The sellers will become shareholders of Holmbergs and continue to operate the business as well jointly pursue new business opportunities together with Holmbergs, the Swedish group said.
Holmbergs is an innovative global market leader in the growing niche markets of safety products and systems for child safety seats, as well as for other transportation niches.