Solix, a Swedish investment company had acquired Terratech AB, which includes its subsidiaries Steelwrist and SVAB Hydraulik.
Steelwrist is a tiltrotator, quick coupler and work tool manufacturer for excavators, while SVAB Hydraulik manufactures control systems for tiltrotators and work tools, also mainly for excavators.
The acquisition of Terratech AB is part of Solix’s strategy to acquire Nordic industrial companies with a strong product portfolio and with significant international growth potential. Following the Terratech acquisition, Solix now has nine Northern European companies in its portfolio.
“We have a very good and forward-thinking cooperation with our OEM customers. Our tiltrotators and quick couplers are increasingly mounted on the excavator directly from our customers excavator factory and with this we are able to support our own and our OEM customers’ international expansion even faster,” said Stefan Stockhaus, CEO of Terratech and Steelwrist.
“Also, product development together with our most important customers will continue to be very high on the agenda.”
Terratech passed 500 million in turnover in 2018 and today is established with its own organizations in 13 countries. Among the company’s main products are tiltrotators and quick couplers, both hydraulic and fully automatic, which are seeing strong international growth.
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In addition, Terratech has several new products such as Tool Recognition, Tool Tip Control and the Quantum control system platform, which together with tiltrotators and tools create productivity increases for excavators worldwide.
Both Steelwrist and SVAB work closely with several excavator manufacturers and the focus on OEM business will continue.
Since its creation in 2005, Steelwrist has become the industry’s fastest growing manufacturer of tiltrotators and quick couplers. It’s front pin lock technology works on both tiltrotators and quick couplers.
SVAB Hydraulik has been in business for more than four decades and has more than 40,000 control systems in the construction, agriculture and material handling markets. Terratech acquired SVAB Hydraulik in 2016.