TYROL, AUSTRIA -- The Tyrolit Group, a leading player in the abrasives industry, has announced a significant move to solidify its position in the Australian market with the acquisition of Abrasive Tools Specialists (ATS). As part of a strategic investment, Tyrolit acquires a majority share in ATS, a reputed wholesaler, importer and converter of abrasive tools.
Tyrolit, already well-established in the Australian construction business, seeks to continue its success story across more industry sectors. "We are thrilled about this strategic investment in ATS, which not only strengthens our foothold in the Australian market but also opens doors to new opportunities and industries,” said Thomas Frieß, CEO of Tyrolit. “We look forward to integrating the strengths of both entities and further contributing to the success story. With a focus on industrial trade products and precision abrasives, Tyrolit aims to diversify its offerings and cater to a wider range of customer needs.
The Tyrolit Group envisions substantial market growth and expansion through the majority shareholding in ATS. The existing management's extensive expertise positions ATS as a key player for forward integration. The acquisition also facilitates synergies, leveraging ATS' infrastructure for upscaling and providing access to approximately 500 new customers, who can now access Tyrolit's extensive product portfolio.
“We are really excited about the opportunities this presents for us as a company, but even more so for our customers, who will benefit immensely of the expansion and the synergies.” Said Simon Parkinson, managing director of ATS.