HOMAG Group acquires majority stake in System TM

HOMAG Group has acquired a majority share of Danish engineering and manufacturing company System TM A/S, a leading global supplier of optimization and solid wood systems. The acquisition follows 15 years of cooperation between System TM and Stiles in North America.

“After 15 years of successful cooperation between System TM and Stiles in the North American market, we are excited to announce the majority share acquisition of the Danish engineering and manufacturing partner, System TM A/S by HOMAG Group.”stilesmachinery.com

• 2 sources
• stilesmachinery.comStiles and HOMAG Further Solidify Their Position in the Solid Wood Industry - Stiles MachineryPaulOct 9, 2020
• durr-group.comHOMAG is making an acquisition in Denmark - Dürr GroupOct 9, 2020

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