On 13th March 2019, Teknoware acquired the entire shareholdings of Invertec Holdings Ltd, UK from the Ellison Company. The company includes Invertec Interiors Ltd in England and Inverter Technology Asia in Malaysia.
Founded in 1980, Invertec is a well-known manufacturer of train, bus and coach lighting and interior panels in Europe and Asia. Invertec currently employs 150 people. The company has one production facility in England and two in Malaysia. Invertec's turnover in 2018 was GBP 15 million.
“Invertec perfectly complements Teknoware's strategy. Our goal is to increase our train and bus product offering and to be closer to our main customers. With this deal, England will become our new home market and in Malaysia we will be closer to our Asian customers. In addition to lighting, our product offering is now expanding to include bus and coach wall and ceiling panels,” says Kai Kauto, President of Teknoware Oy.
“Teknoware is a good base to develop and grow Invertec's business in the future. Teknoware's strong market position, good products and reputation, and their efficient production, combined with our panel production and complementary geographic coverage make us a strong player.” says Gray Ellison, President of the Ellison Company.
After the deal, Teknoware employs 600 people in eight countries. Its headquarters and largest production facility are located in Lahti, Finland. Other production facilities are in the UK, Malaysia, Poland and the USA. The main product areas are lighting and emergency lighting systems for public transport vehicles, buildings and cruise ships, as well as interior panels for buses and coaches. Teknoware supplies lighting systems to all major train manufacturers worldwide. In addition to lighting systems, Europe's largest bus manufacturers also acquire a significant number of interior panels from Invertec. The interior panels are manufactured from high pressure laminate structures with options for a lightweight composites core to reduce weight and complex aluminium composites including flat/formed honeycomb structures.
For more information about the acquisition:
Kai Kauto | President | kai.kauto@teknoware.com | Tel. +358 388 30000