Wintersteiger acquires German machine builder SERRA
Ried i.I./Rimsting. Wintersteiger AG has purchased SERRA Maschinenbau GmbH in Rimsting am Chiemsee, Germany, with retroactive effect to January 1, 2019.
SERRA employs roughly 40 people and develops, manufactures, and distributes machines and saw blades for mobile and stationary sawmills. Roughly 60 % of its wares are exported to over 80 countries. In 2018 the firm posted increased revenues of 6.4 million euros. Like Wintersteiger, SERRA is also a specialist market leader in a niche sector.
The mobile and stationary sawmills complement the Wintersteiger product portfolio in the Woodtech business field (thin-cutting sawing machines, saw blades, automation solutions, and timber repair systems). The acquisition of SERRA has allowed the business field to add further services in the woodworking value-added chain. Logs with a diameter of up to 160 cm are split with SERRA sawmills before the wood can be further processed on Wintersteiger thin-cutting sawing machines.
"With this acquisition, Wintersteiger is pursuing a two-pronged approach to growth. On the one hand there is the potential to boost sales of SERRA products in markets that have either been completely or largely overlooked to date, but in which Wintersteiger has developed a mature sales structure – such as the USA. On the other hand, Wintersteiger can use the existing sales of SERRA sawmills to not only grow sales of band-saw blades in particular, but also thin-cutting sawing machines," explains Dr. Florestan von Boxberg, CEO of Wintersteiger AG.
Johann Fritz, Managing Partner of SERRA adds: "Wintersteiger and SERRA have already enjoyed a successful relationship stretching back for 15 years; a relationship which will now be further nurtured and intensified. In addition to the complementary nature of each firm's products, we both share a similar corporate philosophy. After 20 years at the helm I am unfortunately having to stand down for personal reasons, but I know that in Wintersteiger I am leaving the company in the safest hands."
The SERRA brand and the Rimsting site will continue under Wintersteiger. SERRA's current Managing Director, Christian Mayer, will be joined by Andreas Doubrava, Authorized Officer of Wintersteiger AG, to form SERRA's new management team
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