With effect from December 20, 2023, Beteiligungen Sorg GmbH & Co. KG signed a contract to acquire Techglass Sp. z.o.o. based in Krakow, Poland.
Techglass is a leading glass plant manufacturer, particularly active in the construction of glass furnaces, forehearths, batch plants and related services. Founded in 1990, the traditional family business employs more than 120 people across two sites in Krakow and Warsaw.
The acquisition is part of a sustainable growth strategy which as well as increasing the workforce, will enable SORG to further develop the Polish market and build on its excellent positioning in Europe.
“Acquiring Techglass fits our overall strategy perfectly and accelerates the development of the SORG Group in the Polish and European markets” said Alexander and Michael Sorg, Managing Partners.
“By combining the complementary competencies and sales channels of SORG and Techglass, we are strengthening our position as the leading European manufacturer of glass furnaces. This means we are ideally placed to overcome existing and future challenges as we successfully meet the demands of our customers.”
Andrzej Skowiniak, Managing Director of Techglass, will remain in his current role to help ensure a seamless transition process, “This acquisition by the market leading SORG Group not only validates the hard work and dedication of our team, but also secures a promising future for our company. We look forward to achieving new milestones together.”
The transaction is expected to close by the end of the first quarter of 2024, subject to the fulfilment of contractual closing conditions.