ACQUISITION ANNOUNCEMENT: FURTHER EXPANSION IN CANADA

TENTE is proud to announce the acquisition of Darcor Limited, a major caster and wheel company based in Ontario, Canada and managed by our TENTE subsidiary in the United States.

People and Cultural Fit

At the heart of both companies lies a dedication to customer satisfaction, fostering a seamless cultural fit. Our shared values emphasize innovation and the delivery of high-quality products, ensuring that our strategic visions align closely. The dedication of our employees to the success of our companies has been instrumental in driving growth and shaping our collective future.

Customers and Products

This acquisition further expands the current product portfolios of both entities, reinforcing our mutual strategy to emerge as recognized leaders in the caster and wheel mobility industry. By joining forces, we are better positioned to meet the diverse needs of our customers, including the specialized vertical market experts of TENTE. Furthermore, this transaction presents an opportunity for both companies to further develop their technical expertise and operational capabilities, ensuring continuity and growth for generations to come.

Operational Excellence

Our TENTE subsidiary in the United States has made significant investments in manufacturing and assembly automation, offering invaluable resources to Darcor. Leveraging TENTE's advancements in productivity and technology, we anticipate increased operational efficiency and elevated product quality across our expanded portfolio. Both companies boast unique wheel materials, fixtures and machinery, and caster assemblies suitable for a multitude of industries, enhancing our ability to deliver cross-platform solutions worldwide.

As Ben Mulling, CEO of TENTE North America explained, “We have always been genuinely impressed by the outstanding reputation and accomplishments of Darcor Limited and its brand in our various market application fields in North America. TENTE is a privately held, family-owned company and has been that way throughout most of our 100-year history. As Darcor has a very similar tradition, core value alignment and perspective on the marketplace, we believe that your company would be an excellent partner and further add to the tradition of both of our organizations over the coming years.”

As we embark on this exciting chapter of expansion, we remain steadfast in our commitment to delivering unparalleled value to our customers and forging lasting partnerships. Together, we will continue to innovate, elevate, and lead the way in providing cutting-edge mobility solutions across borders.