M&A Activity • Jul 29, 2013
M&A Activity
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Press Release TKH Group N.V. (TKH)
TKH announces that it has reached agreement on the acquisition of 100% of the shares in Park Assist (USA). Park Assist is an innovative vision technology company which focuses on technology solutions for managing car parks and has a presence in New York City (USA), Australia and United Kingdom. With the acquisition of Park Assist, TKH expands its geographical position in North America and Australia and acquires specific parking related video analytics technology to complete the existing technologies for parking solutions in the TKH Group.
Park Assist uses own developed video analytics technology that is aimed at monitoring of parking lots and traffic streamlining in parking garages through which efficiency, utilization and the attractiveness of parking increases. Through the TKH technologies, Park Assist will be able to offer more complete parking solutions in their existing markets. Through the TKH network and the strong geographical presence of TKH in Europe and Asia, Park Assist will be able to accelerate growth and expansion of their market position in Europe and Asia.
Alexander van der Lof, CEO of technology company TKH: "The technologies of TKH and Park Assist perfectly complement each other and the combination will accelerate the growth of their joint parking solutions. The combined technologies enable parking organisations on the one hand to increase their profitability and on the other hand to match to the trends in parking for differentiated tariffs and higher customer satisfaction. Both companies have cooperated successfully for some time, have developed among others the 'LED Light Pipe Park Assist' and supported each other in gaining new market positions.
Richard Joffe and Daniel Cohen, CEO's of Park Assist: "Becoming a member of the TKH Group, it offers for both, Park Assist and TKH Group, unique opportunities. The combination of innovations of our companies delivers great synergies for our teams, our customers as well as the market. TKH's strategy for sensor solutions fits perfectly in that of Park Assist and enables us to expand our presence in the sensor market."
Park Assist has 36 employees (FTEs) and reports a profitable annual turnover of more than € 15 million. The activities of Park Assist will be part of TKH's sub segment vision & security systems, within the business segment Building Solutions.
TKH finances the transaction from existing resources and expects that the acquisition will have a positive effect on TKH's earnings per share as from the third quarter 2013.
Haaksbergen, 29 July 2013
Executive Board
For further information: J.M.A. (Alexander) van der Lof, Chairman of the Executive Board tel. + 31 (0)53 5732903 Internet: www.tkhgroup.com www.parkassist.com
21 August 2013 Publication interim figures 2013 6 November 2013 Trading update Q3 2013
Technology company TKH Group NV (TKH) is an internationally active group of companies that specialises in the creation and delivery of innovative Telecom, Building and Industrial Solutions.
Telecom Solutions develops, produces and supplies systems ranging from outdoor infrastructure for telecom and CATV networks through to indoor home networking applications. TKH Telecom Solutions operates in three distinct sub-segments: optical fibre networks, copper networks and indoor telecom systems.
Building Solutions develops, produces and supplies solutions in the field of efficient electrotechnology ranging from applications within buildings through to technical systems that – combined with software – provide efficiency solutions for among others the care, traffic and security sectors. TKH's know-how focuses on vision and security as well as connectivity and building technology systems. Vision technology is being used not only for security but also, to an increasing extent, for production automation. Building Solutions operates in three distinct sub-segments: building technologies, vision & security systems and connectivity systems.
Industrial Solutions, develops, produces and supplies solutions ranging from specialty cable, "plug and play" cable systems through to integrated systems for the production of care and truck tyres. Industrial Solutions operates in two distinct sub-segments: connectivity systems and manufacturing systems.
TKH's continuous focus on research and development gives the company a portfolio of products and services that guarantee technologically-advanced solutions. TKH and its various operating companies are active worldwide. Growth is concentrated in North West and Central and Eastern Europe and Asia. In 2012, TKH booked turnover of € 1.1 billion with a workforce of 4,736 employees.
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