The owners of TAIFIN Glass Machinery Group have agreed to sell the majority ownership of the company to German HEGLA Group on 5 September 2019. HEGLA will purchase 51% of TAIFIN’s share capital and the current owners will remain as minority owners of TAIFIN. The company will do business under the name HEGLA-TAIFIN in the future.
ProMan IMAP Finland advised the owners of TAIFIN Glass Machinery throughout the process.
TAIFIN Group is a fast-growing Finnish designer and manufacturer of high-tech glass manufacturing lines for automotive and architectural glass industry. TAIFIN offers technologically advanced flat, tempered, laminated and smart glass solutions to its international customer base. TAIFIN’s year 2018 turnover was 10 M€ with a good profitability. The company operates its worldwide business through the parent company in Nokia Finland and its subsidiary in Suzhou China.
HEGLA Group is an international producer and marketer of machines and systems for glass cutting and sorting and for storage and logistics for the glass industry. The group’s year 2018 turnover exceeded 90 M€. HEGLA operates its worldwide business through the parent company in Germany and through the subsidiaries in Germany, the United States, the United Kingdom and France.
The operations of HEGLA and TAIFIN are highly complementary creating a large amount of synergy opportunities in the glass machinery industry.
“We are pleased to have found a young, dynamic, and innovative partner company in TAIFIN, which has already gained a leading role in the automotive and architectural glass tempering furnace segment with its high-quality safety glass furnaces and unique press-bending technology,” said Jochen H. Hesselbach, CEO of the HEGLA Group.
“We are happy that today, on the occasion of our company’s 10th anniversary, we are able to announce the joint venture with HEGLA. Our partnership with HEGLA means that TAIFIN will now be able to progress on its successful course even faster and reach new customers in the international markets together with the HEGLA Group,” said TAIFIN Managing Directors Esa Lammi, Jukka Sääksi and Jarno Nieminen.
The HEGLA-TAIFIN transaction highlights ProMan IMAP Finland’s capabilities and contacts in cross-border transaction, which create industrial synergies for the value chain of glass processing.