Royal Ahrend becomes the 100% owner of TECHO
The Dutch company Royal Ahrend has completed its acquisition of TECHO and is now the sole shareholder.
This marks the beginning of a new chapter for TECHO, the office furniture producer and interior fit-out company established in 1991 by two private individuals. From the start the company experienced rapid growth becoming the Czech market leader in its field in 1996. On the back of this domestic success TECHO commenced a successful phase of expansion into foreign markets in 1997. Initially this was limited to Central Europe but soon an office was opened in the United Kingdom, which is now the company’s biggest export market. In 2007 TECHO generated its highest turnover ever of 1.2 billion CZK and cemented its position as CEE market leader.
Until 1998 the company was solely owned by its founders. Then in order to finance the company’s further expansion two venture capital firms were invited to take a stake. This started a period of stable growth which culminated in 2005 when a furniture company, Royal Ahrend, purchased a majority stake and pledged to support the continued growth and separate identity of the company. This friendly takeover has now been completed with the purchase of the remaining 25% of shares making Royal Ahrend the 100% owner.
“We are delighted that the acquisition procedure has been completed making us the sole owner of TECHO. The last two and a half years have been remarkably successful for TECHO and we are very excited about future prospects. Royal Ahrend is confident to support TECHO’s further expansion into Eastern Europe where there are great challenges and opportunities” said Jacq de Bruin, CEO of Royal Ahrend. Jiří Kejval, founder and CEO of TECHO, added “Royal Ahrend and TECHO have benefited from a large number of synergies that exceeded even our expectations. This has been one of the secrets of our success over the last two years and I am confident that effective management of these synergies will propel the company to even greater success in the future”. The successful growth of TECHO has the long-term financial backing of ING Bank N. V.
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TECHO, a.s. is the leading company providing comprehensive services in the area of supplying commercial interiors in Central and Eastern Europe and is also a major producer of office furniture in the Czech Republic. TECHO offers the most effective solutions for the new office environment while creating an optimal atmosphere for dynamic companies. Its clients include major banks, financial institutions, international companies and government organisations.
Royal Ahrend is an expert in the field of flexible furnishing solutions and the efficient use of space. Ahrend helps people to work professionally, productively and with pleasure by creating strikingly attractive, functional and agreeable work, study and living environments. Ahrend carries out its worldwide office furnishing activities both through its own branches in various countries and through successful alliances with leading market players. Ahrend’s field of activity includes the Benelux countries, Central and Eastern Europe, Germany, the United Kingdom, Spain, Russia, the United States and the United Arab Emirates. Ahrend has more than a century’s experience in the furnishing of the business environment. For further information, please visit www.ahrend.com.