Eltronic Group sells TS Tech
On 28 April, Eltronic Group completed the divestment of the company TS Tech A/S to Hytor Group A/S.
With the divestment of TS Tech A/S to Hytor Group A/S, the company returns to local ownership in Esbjerg with good opportunities for synergy and further development. Since 2016, Eltronic Group has owned 70% of the shares in TS Tech and now hands over a solid company to Hytor Group, which i.a. provides technical system and tool solutions to the energy sector through activities in Hytor Tools Solutions and Hytor Fluid Solutions.
“TS Tech is a strong company with really good values, skilled employees, and healthy revenue. We are pleased that we have found a new owner who complements TS Tech and can contribute to the company’s further development as a local partner in Esbjerg. We are grateful for our strong and good collaboration with TS Tech and we wish the new owner good luck on the further journey,” says founder and CEO of Eltronic Group Lars Jensen.
TS Tech consists of 45 employees and in recent years, the company has contributed to major electrical and engineering projects in Esbjerg. To be able to offer customers a stronger partner in Esbjerg, it makes sense to bring together local companies.
Solid organization and strategy
Founder and CEO of TS Tech Thomas Bech Sandholdt appreciates the collaboration with Eltronic Group and is ready to invest in stronger local collaboration with Hytor Group.
“Over the past six years, we have been allowed to be part of a very exciting group, where we have been able to learn from colleagues in almost all professional groups within the technical field. A journey we in no way would have been without. Due to this, TS Tech now has a solid organization, a solid strategy and has taken the lead in several unique business areas,” he says and continues:
“I look forward to the future and a close collaboration on all fronts with our new partner Hytor Group.”
The new owner is also satisfied with the acquisition. CEO of Hytor Group Niels Langerhuus already has in-depth knowledge of TS Tech, as he has been part of the board for the past three years.
“With TS Tech as part of the Hytor group, we are even stronger as a versatile partner for the entire customer segment. For several years as a supplier to Hytor, TS Tech has made a strong contribution to the solutions we have created. Therefore, it is a strong move that TS Tech’s competencies now become part of the entire Hytor group, and thus make a solid contribution to the overall value proposition for the energy sector and the green transition,” he explains.
From 28 April 2022, Hytor Group will be the primary owner, while Thomas Bech Sandholdt has expanded his ownership. Thomas B. Wang and Thomas V. West are still co-shareholders. The organization will remain unchanged, just as the Executive Board will remain the same – consisting of CEO Thomas B. Sandholdt, COO Finn E. Christensen, and CCO Thomas V. West.
About TS Tech
TS Tech was founded in 2009, and has since then developed in the engineering and electrical installation industry with a unique commitment to, among other things. the green transition, wind, Power-to-X, and industry.
About Eltronic Group
Eltronic Group A/S owns and invests in companies to help scale their businesses both nationally and globally. Eltronic Group’s companies work in industrial production, green energy, infrastructure, and distribution with the aim of strengthening customers’ competitiveness.
A total of seven operating companies are part of Eltronic Group: Eltronic A/S, Enabl A/S, Eltronic FuelTech A/S, Data Intelligence A/S, HE Marine A/S, Dynatest A/S, and Epcido A/S.
The group is headquartered in Hedensted and has several locations in Denmark, while Eltronic Group’s companies also have locations in the USA, Great Britain, Poland, Bulgaria, Ukraine, India, Taiwan, and China.
Contact for further information
CEO Lars Jensen
Phone: +45 40 14 56 44
CEO Thomas B. Sandholdt