We are pleased to inform you that Gimv Smart Industries has acquired a majority stake in Witec.
As a fast-growing developer and producer of high-quality precision and high-tech components and systems for leading OEM customers, we are excited about the financial strength that the partnership with Gimv provides. This allows us to continue growing and help our customers achieve their strategic goals.
The current management team will retain a significant minority stake and will be supported by the expertise and focus of Gimv Smart Industries to pursue our growth ambitions.
Since the management buy-out by Eric Vos (CEO) and Raimon Warta (CTO/CCO) in 2010, Witec has transformed from a metalworking company into a full-fledged contract design manufacturer for innovative and high-tech precision parts and (sub)systems.
Raimon Warta is happy with the partnership with Gimv as a publicly traded investor with a focus on the long term. He emphasizes that Gimv is a solid partner that strengthens the foundation of Witec, enabling the company to continue investing in expanding its production capacity and sustainably grow with its customers.
Warta is positive about Gimv's approach to long-term value creation and establishing a true partnership, as this aligns well with Witec's customer approach and collaboration with its customers.
Boris Wirtz, Partner Gimv Smart Industries, is impressed with the transition that Witec has made into a contract design manufacturer that delivers significant added value. According to Wirtz, Witec is well positioned to capitalize on growth opportunities with both existing and new customers. Gimv will support the management team of Witec in realizing its growth ambitions and further expanding and professionalizing the organization.
Witec's CEO, Eric Vos, is optimistic about the future of Witec and its strong growth expectations with existing and new customers. He is confident that Witec, as a full-fledged contract design manufacturing partner for its customers, can continue to grow in size and the added value of its services.
With the support of Gimv, the current management team of Witec, which retains a significant minority stake, can further pursue its growth ambitions. Both Gimv Smart Industries and the management team are convinced that Witec is well positioned to capitalize on growth opportunities with both existing and new customers.
Witec will continue to expand and professionalize its organization to continue supporting its customers in realizing their potential.
For more information, please refer to the press release on the Gimv website: gimv.com/en/news/gimv-smart-industries-invests-witec...