TTS Tooltechnic Systems signed Purchase Agreement to acquire US enterprise SawStop, LLC
TTS Tooltechnic Systems signed Purchase Agreement to acquire US enterprise SawStop, LLC, thus expanding the TTS range of products to table saws and enhancing the company’s expertise to further safeguard operator safety. SawStop, LLC is a US manufacturer of high-quality saws headquartered in Tualatin, Oregon near Portland, USA that offers unmatched safety technology. Active Injury Mitigation (AIM) is a pioneering technology that prevents saw operators from suffering serious cuts and wounds by stopping the blade within only a few milliseconds if the saw blade comes in contact with the operator's skin.
For TTS and the company’s subsidiaries, it has always been a top priority to deliver precision results with maximum operator protection. The newly acquired technology, which TTS will continue to develop together with the SawStop team, supports these priorities and prepares TTS to face stricter safety requirements that are likely to be imposed on power tools.
The acquisition is expected to be completed in July 2017. SawStop will be integrated into the TTS group as a separate legal entity and both the name and brand will be preserved. The company’s current management team will continue to operate SawStop. The parties have agreed to refrain from disclosing the purchase price.
About SawStop, LLC
SawStop, LLC is one of the leading providers of table saws in the United States of America and is headquartered in Tualatin, Oregon, south of Portland. AIM technology was invented by Dr. Steve Gass, and the first SawStop saw shipped in 2004. SawStop has a staff of more than 60 and generates in 2016 sales revenues of just under 40 million US dollars, manufacturing high quality, meticulously engineered table saws. For more information see www.sawstop.com
Information on TTS as a company
TTS Tooltechnic Systems AG & Co. KG is a German third-generation family-owned SME that is active on a global scale, has a staff of more than 2,500 and sells and markets its products through 25 proprietary sales subsidiaries as well as more than 40 import partners around the globe. The company is long established in the highly competitive power tool market, primarily with the Festool brand, as a specialist for woodworkers, painters, automotive and renovation, restoration and refurbishment. In 2016 the TTS group generated consolidated sales revenues of EUR 580 million. For more information see www.tooltechnicsystems.com