Novatech International NV makes a first international acquisition in Denmark
The Novatech International family business is known for its Tec7, Novatio and Bike7 brands. The Belgian specialist in adhesives, cleaners and lubricants is confirming its international expansion with the acquisition of its Danish distributor Nowex and its sister company Top-Tek.
According to Novatech International CEO Bert Vissers this is an important but also logical step: "We have strong confidence in Nowex’s management, which distributes our Tec7 and Novatio brands. There is a clear synergy between the two companies and we want to strengthen it. This acquisition allows us to grow faster. It will allow us to capitalise on our strong position on the Danish market.”
Top-Tek is a specialist in lubricants, additives and oil products for heavy duty and industry. The deal allows us to bring important know-how in the field of oils and lubricants into the Novatech Group. This is a fast growing and innovative market. We are looking into ways to use our knowledge to further expand our position in other markets.
Both Danish companies are healthy growing operations, with a total of 20 employees and a turnover of €3.1-million.
Novatech International NV is headquartered in Olen (Belgium) and was founded in 1978. It supplies professionals, SMEs and the industry with specialized solutions directly under the Novatio brand. Novatech entered the Professional building & DIY market in 1993 with the Tec7 brand, which now holds a strong market position in several European countries.