AUSTRIA - Thin-cutting saw specialist Wintersteiger AG has acquired Serra Maschinenbau GmbH, a manufacturer of machines and saw blades for mobile and stationary sawmills.
The March 19 release by Wintersteiger shows the sale date as retroactive to Jan. 1. Details of the acquisition were not disclosed, other than the Serra brand and manufacturing location will continue under Wintersteiger.
Founded in and based in Rimsting, Germany, Serra exports approximately 60 percent of its wood production products to more than 80 countries. In 2018 the firm posted revenues of 6.4 million euros.
Wintersteiger says Serra's mobile and stationary sawmills complement its wood technology business portfolio, which include thin-cutting saws, saw blades, automation solutions, and timber repair systems.
"With this acquisition, Wintersteiger is pursuing a two-pronged approach to growth. On the one hand there is the potential to boost sales of Serra products in markets that have either been completely or largely overlooked to date, but in which Wintersteiger has developed a mature sales structure – such as the USA. On the other hand, Wintersteiger can use the existing sales of Serra sawmills to not only grow sales of bandsaw blades in particular, but also thin-cutting sawing machines," said Dr. Florestan von Boxberg, CEO of Wintersteiger AG.
Johann Fritz, managing partner of Serra added, "Wintersteiger and Serra have already enjoyed a successful relationship stretching back for 15 years; a relationship which will now be further nurtured and intensified. In addition to the complementary nature of each firm's products, we both share a similar corporate philosophy. After 20 years at the helm I am unfortunately having to stand down for personal reasons, but I know that in Wintersteiger I am leaving the company in the safest hands."
Serra's current Managing Director Christian Mayer, will be joined by Andreas Doubrava, authorized officer of Wintersteiger AG, to form Sera's new management team.
Founded in 1953 and based in Ried im Innkreis, Austria, Wintersteiger posted sales of approximately 154 million euros in 2017. The company exports approximately approximately 90 percent of its product. Wintersteiger's North American office is located in Utah; 801-355-6550.
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