OSTRAVA/SOSNOWIEC/APOLDA (CZECH REPUBLIC/POLAND/GERMANY) 27. 6. 2024 – Cylinders Holding a.s., the world's largest manufacturer of high-pressure steel cylinders and solutions for the storage and transportation of compressed gases, has completed the acquisition of 100% of the shares of eurocylinders systems AG (ECS), a Germany-based manufacturer of cylinders. The seller of the ECS shares is the German industrial group Serafin, headquartered in Munich. The buyers are Cylinders Holding and Vítkovice Milmet. The parties have agreed to keep the terms of the transaction confidential.
For more than 60 years, ECS has been developing, producing and selling high-pressure steel cylinders and containers at its site in Apolda, Thuringia. ECS’ cylinders are used to store and transport compressed as well as liquefied gases and are used in diverse applications, such as: industrial gases, medical and rescue technology, the food and beverage industry, fire extinguishing systems, for respiratory protective devices and as diving tanks.
Jan Světlík, CEO of Cylinders Holding, stated: “Our goal was to acquire a good, stable company with potential to grow not only in the strong German market, eight times larger than the Czech one. At the same time, it will become an important distribution centre for the entire portfolio of products of the group."
Michael Dathe, CEO of ECS, states: “A strategic partnership between two companies who have known each other for many years and whose product offerings complement each other has various advantages and potential. We therefore look forward to the future collaboration.”
Cylinders Holding is interested in the long-term development of ECS and will work closely with Mr. Dathe and his team to implement the planned strategy.
With the entry of the new owner, ECS will receive access to further technologies developed at Cylinders Holding, such as for the transport and storage of hydrogen. ECS will continue to operate as a company in the group, with its own brand and production, and will continue its growth path as a specialist for high-pressure steel cylinders.
About Cylinders Holding
Cylinders Holding is a Czech company that has been continuously producing pressure cylinders for more than 120 years. After massive investment, it is a global producer with the largest share in the European steel cylinder market. The company’s export targets all the continents. In selected territories, the holding builds not only a market position but also new production facilities.
The company has undergone significant developments thanks to its current owners. It has special technology for the production of pressure tanks for hydrogen and technical gases as well as atypical pressure systems for hydraulic applications. Cylinders Holding builds on development. For example, in 2008 the company developed and built a new technology for production of cylinders up to 406 mm in diameter by backward extrusion. It is a unique technology, even on a global scale.
About Serafin
Serafin is a diversified industrial group whose philosophy dates back to the 150-year entrepreneurial tradition of the shareholder family. Serafin invests in companies in order to further develop them in harmony with all relevant stakeholders. The group companies achieve a total turnover of over 1 billion euros and employ more than 5,000 people.
