“We are very pleased with this acquisition,” says the CEO of IMS, Roy Langseth. “We are a long-term industrial partner and use the same long-term business philosophy as the basis for this acquisition”, he says. “TeamTec has many talented employees and great products. IMS’s success is built on world leadership within our field, and same can be said for TeamTec in their niches – where they are a leader when it comes to both quality and technology. We see that a close collaboration will provide significant synergies for both companies. We envision that TeamTec continues as a separate company. IMS and TeamTec products and markets are a good match, yet so different that we do not foresee major simultaneous fluctuations in the overall activities. This could ensure jobs, and we can avoid unnecessary short term downsizing within the group.”
“Verdane has been a shareholder in TeamTec since 2006, and is impressed with how the company’s management has adapted its business model and increased its geographic presence to the growing strength of the Asian ship building market. Furthermore, TeamTec’s aftermarket business has been considerably upgraded and professionalized, and represents today a significant part of the total business. Now that TeamTec is sold, we are pleased that it is IMS, a local company, that takes over and we are sure they will contribute to further developing the potential of TeamTec”, says Arne Handeland at Verdane Capital Advisors.