We are delighted to announce that SORG and the shareholders of Techglass Sp. z.o.o. have signed a share purchase agreement contract for the acquisition of all Techglass shares.
Techglass is a leading glass plant manufacturer, particularly active in the construction of glass furnaces, forehearths, batch plants and related services. Founded in 1990, the traditional family business employs more than 120 people across two sites in Krakow and Warsaw.
As well as increasing our workforce, our acquisition is part of a sustainable growth strategy to further develop the Polish market and build on SORG’s excellent reputation in Europe.
“By combining the complementary competencies and sales channels of SORG and Techglass, we are strengthening our position as the leading European manufacturer of glass furnaces,” say Alexander and Michael Sorg, Managing Partners. “This means we are ideally placed to overcome existing and future challenges as we successfully meet the demands of our customers.”
Andrzej Skowiniak, Managing Director of Techglass, will remain in his current role to help ensure a seamless transition process: “This acquisition by the market leading SORG Group not only validates the hard work and dedication of our team, but also secures a promising future for our company. We look forward to achieving new milestones together.”
The transaction is expected to close by the end of the first quarter of 2024, subject to the fulfillment of contractual closing conditions.