Grand Rapids, MI, October 6, 2020 – 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. System TM is the leading global supplier of optimization and solid wood systems.
Russ Suor, Executive Vice President of Stiles states: “We are excited to continue to build on our long-standing relationship with System TM, and this acquisition will also support our successes in the mass timber industry here in North America.”
Additionally, HOMAG Group has formed a new business segment, Construction Elements Solutions. This new segment will combine HOMAG’s existing activities in automated home building along with a focus on mass-timber production and processing technology and will result in additional synergies in the innovation, technology and supply-chain areas.
Pekka Paasivaara, CEO of HOMAG Group, explains: "We are already in a good starting position, and with System TM, we are acquiring an experienced, leading manufacturer with high-end products and a high reputation in project implementation."
Jan J. Samuelsen, CEO of System TM: "HOMAG is the ideal partner for us, because next to our existing business in cross-cutting and finger joining solutions, it will enable us to expand into the area of cross-laminated timber. The new setup for us is a logical step as we have already been cooperating with HOMAG in North America very successfully.”
The combination of Stiles’ expanded partnership with the newly-formed MINDA North America, which was announced earlier this week, Stiles' strategic partnership with Hundegger USA, which began in 2019, HOMAG Group’s 100% share acquisition in WEINMANN in early 2020, and today’s announcement of HOMAG's majority share acquisition of System TM A/S – solidifies Stiles as North America’s leading solution provider for the solid wood and mass timber industries.
For more than 50 years, Stiles has been North America’s industry leader in wood manufacturing solutions. As North America’s largest supplier of quality machinery, Stiles provides a total production solutions approach by also offering equipment integration, project management, financial services, education, service and parts. Headquartered in Grand Rapids Michigan, Stiles also has regional offices in High Point, North Carolina; Bristol, Pennsylvania; Coppell, Texas; and Rancho Cucamonga, California. Stiles is a proud member of the HOMAG Group, a global leader in the production of industrial machines for manufacturing.
About HOMAG Group
The HOMAG Group is the world's leading provider of integrated solutions for production in the woodworking industry and woodworking shops. Its 14 specialized production sites, about 20 Group-owned sales and service companies and approximately 60 exclusive sales partners worldwide make the company a unique system provider. Backed by a workforce of some 6,600 employees the HOMAG Group offers its customers solutions for digitized production, based on digital data continuity from point of sale through the entire production process, combined with a comprehensive software suite. In addition, the open ecosystem "tapio" (open Internet-of-Things platform) maps the data flow along the entire value chain of the timber industry. The HOMAG Group has been majority-owned by the Dürr Group since October 2014.
About System TM
System TM was founded in 1977 by Poul Thøgersen and is today a leading global supplier of automated high-end secondary solid wood processing systems. System TM is one of the largest suppliers for this sector in the world. The core competencies include everything from system design, installation, commissioning and training of personnel to service and maintenance. The latest technology, a unique project organization and a strong focus on close cooperation with the customer result in integrated solutions for every concrete need by optimizing processes and wood resources. System TM is headquartered in Odder, Denmark, and includes administration, production and assembly facilities. System TM employs approximately 130 highly qualified employees and has a strong network of partners and suppliers.