Vexve Armatury Group Oy (Vexve Armatury) has acquired 95.5% of the shares of ZMK Technologies GmbH (ZMK) from Advanced Holdings Ltd, a Singaporean listed company focusing on engineering services and clean technologies, and the founders of the company. ZMK is a Germany-based designer and supplier of highly specialized valves for the petrochemical industry with a focus on ethylene production.
The transaction strengthens Vexve Armatury’s petrochemical business and complements the group’s portfolio of high-quality valves and services for demanding applications. After the acquisition, Vexve Armatury’s turnover exceeds EUR 130M. The factories and existing operations of the group are not impacted by the acquisition. Likewise, ZMK’s headquarters and other operations will continue in Düren, Germany.
”We feel honoured to have the opportunity to combine forces with ZMK and its highly experienced team that has built the leading company supplying the most demanding valve solutions for the petrochemical sector. Vexve Armatury and ZMK are both known for the superior quality of their products as well as the desire to deliver their customers the best service in the industry. We are excited about the opportunities the new combination provides”, says Jussi Vanhanen, CEO of Vexve Armatury Group.
“The Vexve Armatury Group´s highly competitive manufacturing capabilities will support and complement ZMK’s offering very well. This unique combination will enable ZMK to further grow and serve our key customers better than anyone in the industry, also with new products from the Vexve Armatury portfolio”, says Rüdiger Klein, Managing Director and co-owner of ZMK who continues in his role also in the future.