# 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.

- Type: Acquisition
- Announced: 2020-10-06
- Where: Odder, Denmark
- Value: $23.5M (20.0M EUR)
- Status: announced
- Products: optimization systems, solid wood systems, cross-laminated timber equipment
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Homag Group](https://endata.com/companies/17189.md) (acquirer)
- [System TM](https://endata.com/companies/50450.md) (target)

## Sources

- [stilesmachinery.com](https://stilesmachinery.com/stiles-and-homag-further-solidify-their-position-in-the-solid-wood-industry/), 2020-10-09: "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."
- [durr-group.com](https://www.durr-group.com/en/media/news/news-detail/view/homag-acquisition-in-denmark-79367), 2020-10-09: "HOMAG is taking over the Danish mechanical engineering company System TM, which specializes in systems for solid wood processing and has sales of around € 30 million."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.