Founded in 1908, Chr. Renz GmbH (Renz) offers ring wire equipment and has clients in more than 80 countries. The offering includes development and production of ring wire binding machines for the professional and office segments, as well as in-house production of premium quality wire binding consumables. Plockmatic Group has signed an agreement to acquire Renz.
Following significant hardships during the Covid-19 pandemic, Renz was forced into insolvency proceedings in 2024. The insolvency process is expected to be finalised during Q3 2025 and closing of the transaction is expected to take place in connection with this.
‘The acquisition of Renz will be a great opportunity for Plockmatic Group, where we see several opportunities and synergies between our organisations, and to further expand our value proposition as a solution provider to our customers. With Renz becoming a part of Plockmatic Group, we will also get a strong and local sales organisation in Germany, which we have identified as an important growth market for Plockmatic Group going forward,’ said Jan Marstorp, CEO Plockmatic Group.
Michael Schubert, CEO of Renz, expressed happiness and relief about joining forces with Plockmatic, ‘Becoming part of Plockmatic Group and finding a long-term solution for Renz, following some very challenging years, make us look at the future with confidence again. With the insolvency proceedings behind us and access to Plockmatic Group’s resources, we will now be able to invest in new products and continue long-term partnerships with our customers and suppliers.’
PLOCKMATIC
https://plockmaticgroup.com
