Paul Wurth Sells CTI Systems to Latter's Management

Paul Wurth SA has announced that it recently sold Lentzweiler-headquartered CTI Systems Sàrl to a team of six managers of CTI Systems, including the current CEO and CFO.

With the management buy-out, SMS group and its subsidiary Paul Wurth said they will focus on their core business and the sustainable transformation of the metals industry, while CTI Systems will be "free to pursue a targeted strategic vision that fully aligns with the unique dynamics of its clients and markets." 

Founded in 1962, CTI Systems is an industrial manufacturer of specialist handling and storing solutions involving heavy and bulky loads, surface treatment solutions, intralogistics and special access solutions. Headquartered in Lentzweiler (Clervaux) in Luxembourg, CTI Systems is active in aviation (airlines and aircraft producers), commercial vehicles, paper and foil, metals and other growth sectors. Paul Wurth has owned CTI for the last thirteen years.

The management buy-out is expected to allow CTI Systems business continuity and job preservation in Luxembourg. Under its new ownership, CTI Systems is set to remain committed to serving existing and new customers with cutting edge technological solutions. Building on the "continuous commitment and dedication" of its local staff, the industrial presence will remain in Lentzweiler, noted SMS Group.

The transaction is expected to become effective on 31 December 2023.

Torsten Heising, Chief Financial Officer (CFO) at SMS group, said: "Over the past years, CTI Systems has developed into a highly successful company that enjoys the full trust of its customers. After careful analysis, however, we have come to the conclusion that the core activities of CTI Systems, in particular the customers, markets and products, are different from SMS group's activities and could better be pursued under a shareholder structure outside the SMS group. A management buy-out is the best option, not only for SMS group, but for all stake-holders, especially CTI Systems' employees, customers and suppliers. The leadership team of CTI Systems has proven over years to be deeply familiar with the company's operations, culture, market dynamics and customer expectations."

Georges Rassel, Member of the Board of Directors of Paul Wurth SA and Chairman of the Advisory Board of CTI Systems, noted: "Having been closely involved in the whole process since the beginning, I very much welcome the economic continuity ensured by this management buy-out, which allows to maintain innovative engineering activities as well as high quality manufacturing and economic value creation in Luxembourg."

Bob Greiveldinger, Chief Executive Officer (CEO) of CTI Systems, added: "Time has come for CTI Systems to stand on its own two feet. A significant support package granted by SMS group and Paul Wurth has enabled this management buy-out, and our entire team is highly motivated to leverage our entrepreneurial spirit and pursue the industrial heritage of our company."