Turnhout-based mould manufacturer Tumag has acquired industry peer H&D Precision in Asten, the Netherlands. Having reached a certain age and with no successor ready to take over, H&D owner Ad Prins began looking for a buyer. He found one across the border.
“We operate in a niche market and it’s a fairly small world,” says Tumag managing director Wilko van den Abbeelen, explaining the takeover. “I knew that Ad was looking for a buyer because he had no successor, so I approached him.”
Although both companies operate in the mould-making sector, their focus is different. Tumag is more oriented towards new-build projects, while H&D has specialised not only in new builds but also in revision and repair. “The two companies will continue to operate independently, and the H&D name will also remain because it is well known among customers. But we will work closely together and exchange activities,” the Tumag managing director added.
Together, 7 million in turnover
H&D Precision generates a turnover of 2.5 million euros with 18 employees. Tumag employs 30 people, who together achieved a turnover of 4.5 million euros last year. “We have had a very good year, thanks to the improving economy and a few major projects,” says Wilko van den Abbeelen. Tumag has customers throughout Europe, operating in a wide range of sectors. “We mainly focus on moulds for small technical products.”
The new owner wants to invest in modernising H&D Precision. “The company has been around for quite some time and could use modernisation. And if possible, we also want to grow there,” concludes Wilko van den Abbeelen.
Both companies will continue to exist as independent entities, and H&D managing director Ad Prins will remain on board for at least another year.