GERMANY - The Homag Group (Schopfloch) has completed its acquisition of System TM,  by purchasing the remaining 20 percent of shares at the beginning of April 2024.

Homag initially acquired an 80 percent stake in the Danish engineering and manufacturing company, a global leader of highly-advanced automated handling systems to the solid wood industry, back in 2020. System TM specializes in machines and services for processing solid wood, with applications including wooden house construction.

Dr. Daniel Smith, CEO of Homag Group AG, stated, “In recent years, alongside our traditional furniture production systems, we've successfully developed a new business segment in timber construction. We see substantial growth opportunities in this sector, particularly in wooden house construction, and are continuously expanding our efforts. Acquiring the remaining shares in System TM was a natural progression in our strategy.”

This final phase of the acquisition was part of the original purchase agreement made in 2020, where Homag agreed to buy the last 20 percent from the management of System TM, who will continue to oversee operations. CEO Jan J. Samuelsen remarked, “We identified Homag as the ideal partner during the 2020 takeover. Our assessment remains unchanged, as our timber construction products are highly complementary, positioning us among the global leaders in production technology for the solid wood industry.”