Titomic has acquired a Netherlands-based cold spray technology company, Dycomet, which has a portfolio of R&D services via an in-house laboratory, software development and the provision of servicing, spare parts and consumables for its systems.
Dycomet has offered low and medium pressure cold spray technology solutions to various industries since 2006. In 2016, Dycomet also added high pressure cold spray solutions to their portfolio, which will provide Titomic’s European customers with local support and capability.
“The acquisition of Dycomet is a significant step in Titomic’s strategic pathway to being a global company. We are excited to welcome Dycomet onboard and look forward to working with Klaas and his team on the many exciting opportunities that this acquisition presents,” Titomic chief executive Herbert Koeck said.
“While Titomic focuses on high-pressure applications, Dycomet services the soft-end low and medium-pressure market. With our complementary machinery and product portfolio, the combined expertise now available to the company will further accelerate the company’s growth into new markets and provide current customers with a broader product offering.”
Dycomet’s clients include household brands such as Rolls-Royce, Mercedes, Airbus, Siemens, VW and several leading universities. Dycomet is well aligned with Titomic’s strategic approach, in targeting markets such as the aviation and automotive industry.
Dycomet founder and chief executive, Klaas Rozema, will step into the new role of general manager of Titomic Europe. Klaas brings a wealth of experience in cold spray technology, having spent the past 13 years building Dycomet to now hold a leading position in the European market.
“I am delighted that Dycomet has been acquired by a new owner who understands our industry. Titomic is an excellent complementary fit with our current product set and expertise and can support the next phase of growth, offering a wealth of opportunities for our team,” Dycomet chief executive Klaas Rozema said.
“I will continue to lead the business in Europe, and I look forward to working with Herbert to bring the two companies together and ensure the synergies between the two businesses are fully harnessed.”
The transaction will provide Titomic with a base in Europe, giving it exceptional global access together with its Australian headquarters and Titomic USA. The acquisition will be immediately revenue accretive for Titomic with a healthy pipeline of customer orders in Europe.
Several synergies that will be immediately realised between the businesses include additions to Titomic’s comprehensive product portfolio, wider product offers to current customers, use of complementary machinery sets from both sides, Titomic’s ability to service and maintain additional industry machinery in Europe and providing technical and sales functions for the company in the region.