ITEQ focuses on further growth and joins the WILVO GroupPublished on 17 December 2021
The focus at ITEQ is always on growth, collaboration and results. ITEQ has given shape to this growth in an unprecedented way in recent years. With a new building in Nijkerk, a high level of automation, digitization and the strong cooperation with its OEM customers, ITEQ has placed itself in the top of sheet metal processing in the Netherlands.
With all of this, ITEQ has asked itself the question: how can we continue to achieve growth? Because one thing is certain. There is a need in our sector for healthy thriving, growing companies with a high level of innovation and good returns. For this reason, ITEQ has started looking for a partner who can form a good foundation for the further growth of ITEQ for the long term. ITEQ believes that the long-term sustainable success of ITEQ can be strengthened under the banner of the WILVO GROUP. An acquisition that helps ITEQ with its growth ambitions.
Our customers demand growth today, tomorrow and in the future. They grow themselves and to remain successful ITEQ will have to continue to grow.
What does this acquisition entail?
For the retired directors / owners Theo Tolboom and Tim Kollen, the ITEQ era is coming to an end after more than 30 years. After both entered service in 1989 and 1990 respectively, the gentlemen took over the company in 2007. A successful transition has taken place, which has made the ITEQ Group the success it is today.
With this takeover, the current management team will in turn form the new three-man management within ITEQ. With Marc Nanninga as financial director, Martijn Engwerda as operations director and Menno Bos as commercial director, the strategically chosen direction will be continued, realized and further expanded.
Why this acquisition?
The acquisition of ITEQ by WILVO Group is strategic in nature. This means that WILVO Group further strengthens its leading position in the market and can serve customers even better in the field of complete compositions. WILVO Group sees ITEQ as a top player and an important partner for large OEMs. WILVO is also just as ambitious as ITEQ, but at the same time a flat company in terms of culture where people are central.
At the end, we can conclude that there is an absolute win-win situation for WILVO Group and ITEQ.