Acquisition of Wistra GmbH
Published August, 2016
The Heico Companies announced that it has completed the acquisition of Wistra GmbH.
Wistra is a manufacturer and supplier of cargo securement products. Headquartered in Selmsdorf, Germany, Wistra joins Heico's existing companies Kinedyne and Ancra Cargo serving the global transportation market.
"The strategic acquisition of Wistra is an excellent complement to the broad portfolio of cargo securement businesses within Heico," Steve Frediani, President and CEO of Heico's Ancra Group, explained. "The addition of Wistra will give us a strong foothold in Germany and ready access to its EU trading partners."
Wistra has been manufacturing, distributing and promoting cargo securement and related products since 1986. Wistra's headquarters is located in Selmsdorf, Germany and it operates a second facility in Klaipeda, Lithuania, which was established in 2007.
In addition to a complete offering of cargo securement products, Wistra also manufactures several innovative products related to medium- and light-duty cargo transport applications. The company also produces double decking systems specifically designed for curtain-side trailers.
"While each of Heico's businesses run on a stand-alone basis, the various companies within the cargo securement space share resources and best management practices, in a concerted effort to push our industry forward," Frediani added. "The addition of the Wistra team, products and brand will further enhance our capability and commitment to deliver the safety, innovation, quality and services our customers deserve."