On 19 October 2015, Stiftelsen Teknologisk Institutt signed an agreement with Kiwa NV for a merger of Teknologisk Institutt AS with Kiwa by transfer of 100% of the shares. KIWA is part of ACTA* Holding together with Inspecta and Shield Group. 'The merger is very positive for Teknologisk Institutt, our customers and all of our highly competent employees', says CEO of Teknologisk Institutt, Vibeke Strømme.
Teknologisk Institutt (TI) has deep roots in Norwegian industry. The company’s long history dates back to Statens teknologiske institutt, which was founded in 1917. Another important part of the company’s business originates from the laboratories in the Kongsberg Industry and KV. TI has continuously developed its services in response to new industry developments. Over the years, the company has made a number of acquisitions to reinforce its position as a leading national player in the TIC industry (Testing, Inspection & Certification).
TI currently possesses specialised expertise in materials technology, calibration and certification, as well as related training activities. The company has 200 employees divided between offices in Oslo (head office), Kongsberg, Stavanger, Bergen, Haugesund and Trondheim, and had a turnover of NOK 272 million in 2014.
Kiwa is a leader in the European TIC industry. The company is part of ACTA* Holding together with Inspecta and Shield Group. ACTA* currently employs more than 4,000 people in 35 countries, and has a turnover close to EUR 375 million in 2015. The company has an ambitious growth strategy to become a world leader within specific TIC niches.
Beneficial for all parties concerned
Kiwa’s merger with TI will likely be finalised in mid-November, after the Norwegian Competition Authority has completed its assessments. Deloitte has assisted the holding foundation Stiftelsen Teknologisk Institutt throughout the sales process.
'The acquisition of TI fits well with our activities and growth plans. The company has a strong national position within certification, materials technology, calibration and training, all of which are important focus areas for Kiwa, but where we have not yet been represented in Norway. TI is a good platform for increasing sales of our services in Scandinavia and abroad. Moreover, during our site visits in Norway we have met with friendly, well experienced TI staff sharing a comparable culture as within Kiwa', says Paul Hesselink, CEO of Kiwa.
'TI now has a strong industrial owner. This will put the company in a better position for future development and growth. Through Kiwa and cooperation with other ACTA* Group companies, we will be able to strengthen our service offerings to our clients and the Scandinavian market in general. At the same time, we will also be better positioned to assist our many international clients beyond our national borders', says Vibeke Strømme, CEO of Teknologisk Institutt.
The parties have agreed not to disclose financial data relating to the transaction.
For more information, please contact:
- Vibeke Strømme, CEO of Teknologisk Institutt, Tel. +47 474 00 525, E-mail: email@example.com
- Jon David Junge, Marketing Manager at Teknologisk Institutt, Tel. +47 911 30 142, E-mail: firstname.lastname@example.org
- George Mentjox, Manager CorpCom of ACTA*/Kiwa, Tel +31 653 315 701, E-mail: email@example.com