Paul Wurth S.A. sells CTI Systems S.à r.l. to a team of six experienced key managers of CTI Systems, including the current CEO and CFO. With the management buy-out, SMS group and Paul Wurth will focus on their core business and the sustainable transformation of the metals industry, while CTI Systems will be free to pursue a targeted strategic vision that fully aligns with the unique dynamics of its clients and markets.
Founded in 1962, CTI Systems is an industrial manufacturer of specialist handling and storing solutions involving heavy and bulky loads, surface treatment solutions, intralogistics and special access solutions. Headquartered in Lentzweiler (Clervaux), Luxembourg, CTI Systems caters to the needs of some of the most prestigious industries in the world, active in Aviation (airlines and aircraft producers), Commercial vehicles, Paper and foil, Metals and other growth sectors. CTI has been owned by Paul Wurth for the last 13 years.
The management buy-out allows CTI Systems complete business continuity and job preservation in Luxembourg. Under its new ownership, CTI Systems will remain fully committed to serving existing and new customers with cutting edge technological solutions. Moreover, the change of control will fully preserve the integrity of the professional standards, governance principles and values of CTI Systems. Building on the continuous commitment and dedication of its local staff, the industrial presence will remain in Lentzweiler.
The transaction is expected to become effective on 31st December 2023.
SMS group – Torsten Heising, Chief Financial Officer: “Over the past years, CTI Systems has developed into a highly successful company that enjoys the full trust of its customers. After careful analysis, however, we have come to the conclusion that the core activities of CTI Systems, in particular the customers, markets and products, are different from SMS group’s activities and could better be pursued under a shareholder structure outside the SMS group. A management buy-out is the best option, not only for SMS group, but for all stake-holders, especially CTI Systems' employees, customers and suppliers. The leadership team of CTI Systems has proven over years to be deeply familiar with the company’s operations, culture, market dynamics and customer expectations.”
Paul Wurth – Georges Rassel, Member of the Board of Directors of Paul Wurth S.A. and Chairman of the Advisory Board of CTI Systems: “Having been closely involved in the whole process since the beginning, I very much welcome the economic continuity ensured by this management buy-out, which allows to maintain innovative engineering activities as well as high quality manufacturing and economic value creation in Luxembourg.”
CTI Systems – Bob Greiveldinger, Chief Executive Officer: “Time has come for CTI Systems to stand on its own two feet. A significant support package granted by SMS group and Paul Wurth has enabled this management buy-out, and our entire team is highly motivated to leverage our entrepreneurial spirit and pursue the industrial heritage of our company. “