Blow moulding company Rikutec has acquired Sotralentz-Habitat, a French producer of blow moulded fuel tanks and rainwater systems used in domestic applications.
Rikutec, based in Altenkirchen, Germany, said in a statement the acquisition, for an undisclosed price, was previously approved by the regional court in Strasbourg, which is responsible for the Sotralentz Group while it goes through an insolvency process.
Sotralentz-Habitat has two production sites. Drulingen in France has 65 employees, and Lantaron in Spain has 28 employees.
Rikutec specialises in multi-layer blow moulded containers for industrial purposes, including drums and IBCs. It also has a rainwater tank business, but it said the acquisition extends its product range by adding heating oil tanks.
"With the purchase of Sotralentz-Habitat, we are pursuing a consistent growth strategy for the international expansion of our sales and production facilities," said Bodo Richter, CEO of Rikutec.
Rikutec has had partnership agreements with Sotralentz-Habitat and the merger capitalises on their joint experiences in the market, said Rikutec.
"As Rikutec and Sotralentz Habitat are active in the same market segment and are using similar processes in production, we expect positive synergies in the short term," said Richter.