Italian CNC router and machining centre maker CMS SpA has bought a 25% stake in Rye Technology, leading to the creation of a new business, RYE CMS Ltd.
The deal went through just in time for the operation to appear under its new corporate logo at the Ligna exhibition in Germany. Its stand was strategically sited just yards away from that of CMS.
Speaking at the show, Rye CMS sales and marketing director Chris Harford told TTJ that the tie-up between the British and Italian companies would benefit both.
‘CMS is obviously the bigger company, seven times larger in terms of unit sales, but the businesses are very complementary, with very little overlap,’ he said. ‘For instance, CMS is very strong in the larger routers and machining centres, while Rye has the very successful new QM entry level CNC router. Also, the new arrangement gives RYE CMS access to CMS’ extensive international sales network, while the CMS range will be sold and supported by our sales and technical team in the UK. The total of the new business is even greater than the sum of its parts.’
Mr Harford added that there would also be opportunities for technical and development collaboration between RYE CMS and CMS, which are based respectively in High Wycombe and Zogno, near Bergamo.
Following CMS’ investment, the ownership of the British business is now split between the Italian company, the Rye management buyout team, which took over last year, and the previous owner, Glenfinnan Ltd.
CMS, which also makes machinery for the aluminium, plastic, stone and glass sectors, is owned by the Aceti family.
Its UK sales were previously handled by Trio Distribution Ltd which has ceased trading (TTJ May 26).
