Parcom Capital and the management team of CTS today announce they have acquired CTS International Holding B.V. including its subsidiaries (“CTS”), from the current shareholders. CTS is a leading company specialized in the design, supply, installation and maintenance of systems and products for storage tanks.

The product lines of CTS include aluminium dome roofs, internal floating roofs, tank seals and many other specifically designed products and systems for atmospheric storage tanks. CTS is a fast growing company and currently has a turnover in excess of EUR 40m and operates from 10 offices around the world. On this basis it has developed a strong presence in Europe, South America, the Middle East and Asia. Amongst its most important customers it ranks all major oil and independent storage terminal companies.

Concurrently with this acquisition, CTS acquired Walex, in order to improve its market position in the field of Industrial Supplies. Walex is a Dutch company active in this field handling products such as pipes, flanges, fittings, hoses, fasteners, gaskets and industrial and marine spares.

Gert van Meijeren, CEO of CTS comments: “We are very pleased with our new shareholder Parcom Capital and look forward to further develop our position with current customers and build up our international network with their support. The backup of a financially strong shareholder will also enable us to make selective, well considered add-on acquisitions that will strengthen the international presence of CTS.”

Parcom Capital adds that the acquisition of CTS fits very well with its fund strategy to assist established midsized companies with their successful international expansion and CTS appears to be a good platform for autonomous growth as well as add-on acquisitions, as demonstrated by the Walex acquisition.

Since being founded in 2004, CTS has developed itself to a global leader in the field of specific products and systems for atmospheric storage tanks. CTS has significantly grown its market share in aluminium domes, internal floating roofs and seals by constantly delivering high quality products and realising projects as per customer expectations. Aluminium domes and internal floating roofs reduce water content for products stored inside storage tanks and their use reduces product losses and emissions of volatile organic compounds as a result of evaporation, which is obviously of great importance for environmental reasons.

All involved do expect that both the growing importance of realising a minimum environmental impact as well as the solid growth of the international trade in, and storage of oil and gas results in excellent future opportunities for CTS.