Beritech has just signed an agreement to acquire Rutek, a specialist in the design and manufacture of stainless steel structures – including special tanks and PED-approved pressure equipment – for the pharmaceutical, offshore and chemical industries.
The acquisition provides Beritech with a new commercial pillar in the pharmaceutical and biotechnical area, which is the perfect complement to Beritech’s other activities. Beritech has already carved out a solid position for itself as a supplier of customised tank systems for the dairy and food industry.
The purchase marks the Beritech Group’s sixth acquisition in eighteen months. Rutek and the existing Beritech business area that operates under the name of Stainless Steel Tanks, is set to generate a strong synergy, making it possible to expand the customer range in the Group’s tank segment from the perspectives of complexity, quality management and project size.
Bent Larsen, CEO of Beritech, comments:
“We have identified a clear increase in demand on services and production from all sectors. The purchase of Rutek is therefore an expression of our commitment to making Beritech an even more complete supplier in the stainless steel industry.”
Through previous corporate acquisitions, Beritech has clearly demonstrated its capacity to generate growth – and to penetrate new markets – through knowledge sharing and consolidated production capacity. The Group has similarly lofty expectations with regard to the acquisition of Rutek.
Rutek is one of the strongest suppliers of tank systems and pressure equipment to the pharmaceutical market. They have a strong team backed by specialist knowledge, and we’re looking forward to benefiting from their competence and know-how in this area.
“I’m delighted that Rutek considers the Beritech Group to be a suitable owner. Rutek is one of the strongest suppliers of tank systems and pressure equipment to the pharmaceutical market. They have a strong team backed by specialist knowledge, and we’re looking forward to benefiting from their competence and know-how in this area. This is one of the key reasons why Rutek is such a good strategic match,” explains Bent Larsen.
The former owner of Rutek, Martin Ketil Bak, is likewise pleased that the agreement with Beritech has been finalised.
“At Rutek, we’ve worked hard to develop a scalable business and cutting edge process control. The companies in the Beritech Group draw on each others’ strengths with a view to optimising the shared business. Beritech can help accelerate Rutek’s development even further, to the benefit of employees and customers alike,” he says. Following the acquisition, Martin will be handing over the position of CEO to Bent Larsen, but he will be maintaining links with the company.
Rutek currently employs 45 people in total. Under the new ownership, the Randers-based company will continue operating as an independent pillar of the business. The move will thus provide Beritech with a strong base in the heart of Jutland, which the Group expects to expand through the injection of new competences and capacity.
“It is largely down to our employees that we have come so far in our work to provide the highest quality of customized tank systems and process plants that live up to the stringent demands of the pharmaceutical industry. Throughout the process, Beritech has demonstrated deep respect for what we have built up. Rutek will maintain its identity at the same time as having access to excellent opportunities for further growth,” concludes Martin Ketil Bak.
Contact: Bent Larsen, CEO of Beritech and CEO of Rutek, tel. +45 22 24 66 58, email@example.com
Contact: Martin Ketil Bak, former owner and CEO of Rutek, +45 29 64 64 66, firstname.lastname@example.org
For press material: Anne Kold, Communication Consultant, +45 60 12 15 10, email@example.com
The parties do not wish to disclose the financial and legal details of the agreement.