HSTEC joins the CHIRON Group
A significant milestone for HSTEC happened today, with the acquisition of 90 percent of the company HSTEC by the CHIRON Group, headquartered in Tuttlingen, Germany, a global company specializing in CNC-controlled vertical milling and turning machining centers, as well as turnkey and automation solutions, digital products and services. With the acquisition, HSTEC will benefit significantly from the engineering expertise and the global presence of the CHIRON Group.
HSTEC will remain as a brand, and the company will continue its current operations: the development, design, and production of high-speed motorized spindles, engineering and customized solutions in industrial automation, as well as spindle service and repairs. In addition, HSTEC will continue to represent the companies Balluff, Bosch Rexroth, Hofmann, Wittenstein Alpha, and Mitutoyo as authorized representative for the Croatian market. The companies that represent HSTEC in Germany and China will also remain unchanged.
With the acquisition, the CHIRON Group is expanding its capacities and strengthening the following competencies: development, production, and assembly of the motorized spindles and lathe spindles as well as the workpiece clamping devices for the group’s machining centers. In addition, the CHIRON Group is expanding its services worldwide, including repair and optimization of the spindles in existing machines.
The former full name of the brand: “HSTEC - High Speed Technique” becomes “HSTEC - brand of the CHIRON Group”. The official company name will change in CHIRON Croatia.
With the future CHIRON Croatia, the CHIRON Group is present in Eastern Europe with another company and will gradually develop the location in Zadar. More than 100 employees are currently working in HSTEC, 25 of them in engineering alone, increasing the number of employees in the group to around 1,900 worldwide.
The former CEO of the company HSTEC Mladen Šarlija is the owner of the remaining 10 percent of CHIRON Croatia and has been appointed as the Managing Director of CHIRON Croatia. HSTEC will be continued as a brand and will be part of the brand association of the CHIRON Group: CHIRON, STAMA, FACTORY5, CMS, GREIDENWEIS, and HSTEC.
HSTec was advised by InterCapital and Proventis (financial) and Buterin & Partneri (Legal). CHIRON was advised by Grant Thorton (financial and tax), and Ilej & Partneri (legal).