Fluidmaster, a manufacturer of toilet tank components and trim, has entered into a definitive agreement to acquire Key Teknik, a sanitary equipment business based in Istanbul, Turkey. Established in 2008, Key Teknik markets under the Wilco brand as well as private label in-wall and concealed cisterns extensively in Turkey, the Middle East and Europe.
“This acquisition allows Fluidmaster to best serve existing and prospective customers in Europe and beyond,” said Robert AndersonSchoepe, chairman and CEO of Fluidmaster. “We are confident this is a great move forward to further strengthen and expand our product offerings and global capacity, following our acquisition of the LIV and Schwab brands and associated operations in Slovenia last year.”
The transaction is expected to close on or around Nov. 1, 2015, subject to customary closing conditions and approvals. Management for the existing operations in Turkey will remain in place, along with the Wilco brand, now augmented by Fluidmaster’s line of products, services and brands.
“It is a privilege to welcome Sadi Burat and Kamil Alis and their team into the Fluidmaster organization,” stated Todd Talbot, Fluidmaster president. “We look forward to capitalizing on the energy, unique skills and business potential of this team.”
Burat, member of the board for Key Teknik, said: “In Fluidmaster, we have found an incredible partner who shares our vision and mission to deliver the very best products and service to our customers. We look forward to a bright future as we combine the power of the Fluidmaster brand with our globally competitive manufacturing operations.”
Report Abusive Comment