Plockmatic Group has signed an agreement to acquire Chr. Renz GmbH (“Renz”) in Germany, including subsidiaries in Australia, Argentina, UK and Turkey. This acquisition is an opportunity to enter into the ring wire binding segment, which is a natural complement to Plockmatic Group´s existing offering. Plockmatic Group sees significant synergies with Renz within key areas such as sales, production, sourcing and R&D, with the ambition to broaden Plockmatic Group´s geographic footprint and develop the next generation of automized professional ring wire binding equipment for calendar and book production.
Founded in 1908, Renz is a global leader within ring wire equipment with clients in more than 80 countries. The offering includes development and production of ring wire binding machines for the professional and office segments, as well as in-house production of premium quality wire binding consumables.
“The acquisition of Renz will be a great opportunity for Plockmatic Group, where we see several opportunities and synergies between our organizations, and to further expand our value proposition as solution provider to our customers. With Renz becoming a part of Plockmatic Group, we will also get a strong and local sales organization in Germany, which we have identified as an important growth market for Plockmatic Group going forward,” says Jan Marstorp, CEO Plockmatic Group.
Michael Schubert, CEO of Renz, expresses happiness and relief about joining forces with Plockmatic: “Becoming part of Plockmatic Group and finding a long-term solution for Renz, following some very challenging years, make us look at the future with confidence again. With the insolvency proceedings behind us and access to Plockmatic Group´s resources we will now be able to invest in new products and continue long-term partnerships with our customers and suppliers.”