DEUS Rescue acquires VR-Tec GmbH

Deal Participants:
Acquiring Company: DEUS Rescue View Profile Charts Homepage
Target Company: VR-Tec GmbH View Profile Charts Homepage
Deal Financials:
 
Date:
Announced: Sep 04, 2012

PRESS RELEASE

DEUS Rescue, a closely-held company based in Boulder, Colo. that manufactures hcontrolled descent devices worldwide, has completed its acquisition of VR-Tec GmbH of Bietigheim-Bissingen, Germany. VR-Tec had been a joint venture partner of DEUS Rescue since 2008. The company did not provide details of the transaction.

VR-Tec initially was a supplier of brakes for what became the DEUSŪ 3000 Series of controlled descent devices, and it was instrumental in the design of that series and 7000 Series devices. It has manufactured the devices since they were introduced in 2008 and handled product marketing and distribution of DEUS products throughout most of Western Europe, according to DEUS Rescue.

The products are used by firefighters, the military, law enforcement and by workers in industrial markets including wind energy, telecommunications, and electric power distribution, and by participants in challenge courses and zip-line tours.

"We're extremely pleased with the completion of this acquisition," said Shain Rae, chief executive officer of DEUS Rescue. "This acquisition enables us to combine the engineering and manufacturing capabilities of VR-Tec with DEUS Rescue's product development talents and extensive market knowledge. Acquiring VR-Tec also gives us greater global reach under a single, unified brand."

He said the deal allows DEUS Rescue to expand its distribution network to Europe, the Middle East, Russia, and throughout Asia. "We've already completed some new distribution arrangements and we're looking for more," he said.

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Edit History:
Sep 04 '12
This version submitted by Melg8Mike

 

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