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BTS Acquires MTAC to Build a Base in Europe's Largest Market

Monday, November 06, 2017 | Category :
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STOCKHOLM, SWEDEN - BTS GROUP AB (publ), a leading global strategy implementation firm, has agreed to acquire MTAC GmbH, a consultancy group focused on serving German-speaking Europe with a high-quality offering similar to BTS’s.


MTAC GmbH’s consolidated revenues for 2016 amounted to 5 million euro. The company’s operating margin has historically been at or above that of BTS. The company has 23 employees, most of them based in Cologne, Germany, and works in close collaboration with 12 freelance professionals.

MTAC was originally established in Germany and Switzerland in 1995 aiming to impact the future of learning. The company has grown successfully and is serving some of the largest organizations in the German-speaking part of Europe with innovative training, performance support solutions and simulation based services for strategy execution, business acumen, leadership and marketing.

“We are very enthusiastic in welcoming MTAC to BTS. The organization has a lot of experience and talent, and a great track record of serving large demanding German and international businesses, resulting in long and deep customer relationships. It gives BTS a base in Europe’s by far largest market. It also allows us to serve our global clients better, and it creates significant growth potential. In addition, MTAC adds top knowledge in the area of marketing expertise, which is a potentially new practice area for BTS,” says Henrik Ekelund, Founder and CEO of BTS.

The founder of MTAC, René Groeneveld, and the additional owners, Thomas Blume and Michel Emundts, have all agreed to stay for a minimum of three years. They will assume different important positions to drive growth and help build a significant BTS business in German-speaking Europe and aim for marketing excellence worldwide.

René Groeneveld of MTAC comments: “We are delighted to join the BTS family and strongly believe it to be a perfect match of the businesses, solutions, people and cultures of both companies. This important strategic move will enable us to serve our clients even better. With our joint strong competencies, capabilities and technologies we have a solid base for future growth in Germany, Switzerland, Austria and beyond.”

BTS acquires the shares in MTAC GmbH, and its subsidiaries, all operations including talent, technology, intellectual property, brands and equipment. Of the initial purchase price, approximately 15 percent is paid in BTS shares. An additional payment, which can partly be paid in new BTS shares, will be paid out in 2021, provided the business meets specific targets 2017-2020.

Completion procedures will be finalized in the coming week after which the transaction has immediate effect. The acquisition is expected to have a positive impact on BTS’ earnings per share during 2018.


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