14 September 2010

Planit Acquires Significant Global Sheet Metal Business

Group Commercial Director Patrick Love said that following the recession, Planit is now back on its growth path, and the purchase of Somatech Sheet Metal is the first acquisition in that renewed programme.

The intellectual property rights of all Somatech’s Sheet Metal products were transferred to Planit from 1st August, along with the licensing of some additional business software which Planit will continue to develop. Planit has also completed the purchase of other assets of Somatech’s Sheet Metal business, enabling the formation of a company in Holland. Somatech Sheet Metal and Planit already had a thriving relationship, with Somatech Sheet Metal acting as a Radan reseller for Benelux, while also developing a versatile sheet metal bending product for Planit that of RadBend CNC.

Known as Radan BV, the company will be run by a six-strong team of former Somatech Sheet Metal employees, and will continue to provide its long-standing service to around 200 sheet metal customers throughout Benelux. Radan BV joins Planit’s growing stable of subsidiaries worldwide, which include businesses in France, Germany, Japan, China and Italy.

Radan BV will be located at the same premises that Somatech used, and all Somatech’s former products will be sold through Radan BV.

Patrick Love said: “This was a strategic acquisition for Planit, which is fully supported by our investors, August Equity and HSBC. It enabled us to take control of a key software component while securing our position in this important region for Radan. We’re extremely pleased to have such great technology and a motivated team moving from Somatech to Radan BV.”

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