Vanderlande will retain its name and corporate identity, and continue to operate as a standalone entity from the same locations worldwide.
According to Vanderlande, the transaction signifies TICO’s strategic ambition to increase its presence in automated material handling.
It follows its recently announced expansion in North America with the acquisition of Bastian Solutions LLC and further cements TICO’s global leading position for total solutions within material handling.
Speaking earlier this year when the deal was announced, Vanderlande’s CEO, Remo Brunschwiler, commented: “Vanderlande is pleased to be acquired by such a successful, strategic partner.
"The financial strength behind TICO and its global presence will help our company to continue with its strategy of sustainable profitable growth.”
Vanderlande recently announced that its revenues soared by 15% in 2016 to an all time high of €1.1 billion. Its strategy of sustainable, profitable
growth was boosted by a record order book of €1.7 billion (+11%) during the calendar year.
Brunschwiler noted: “There is a high level of interest for the type of solutions and services that Vanderlande provides, and revenue is expected
to increase again from CY2016.”