TTS Tooltechnic Systems

Schipro s.r.o., based in the Czech Republic, reaches an agreement with TTS Tooltechnic Systems on the purchase of NAREX s.r.o. Cognos Germany facilitated the acquisition within the framework of an international bidding process

TTS Tooltechnic Systems has a number of investment holdings in firms and companies, predominantly in the power tools sector under the core brand of FESTOOL. NAREX s.r.o., whose origins date back more than 100 years with the production of power drills under the Siemens brand, is today the leading brand for power tools in the Czech Republic. As TTS Tooltechnic has decided to focus on its global brands for strategic reasons, it put NAREX up for sale.

An ideal strategic partner for NAREX was found in the form of Schipro s.r.o., a Industrialsr of power tools based in Litomyšl, Czech Republic. Due to its market access and familiarity with the Czech power tools market, Schipro meets the ideal prerequisites for successfully developing the traditional NAREX brand moving forward.

Cognos Germany assisted TTS Tooltechnic Systems by arranging an international M&A process. Special focus was placed on finding a new owner that could successfully position NAREX independently on the Czech market, operating from its location in Lipa.