Retrotech Acquired by Subsidiary of French Firm
Savoye Inc., a Chicago-based subsidiary of Savoye, Dijon, France, has completed an agreement to purchase all outstanding shares of Retrotech Inc., a privately held engineering services firm based in New York State.
Savoye, an international logistics engineering firm with 550 employees and over 1,000 customers globally, earned revenues of $110 million in 2009 primarily from equipment manufacturing, systems engineering, and software development.
"Retrotech has earned a solid reputation for first rate engineering services and support that we can now offer to our North American customers," said Jack LeVan, president of Savoye Inc. "We look forward to building upon the Retrotech name, employees, location, and management team led by president Pete Hartman."
"Savoye and Retrotech together offer customers a wider range of capabilities and expertise within a disciplined process focused on business results," said David Reh, former chairman.
"We anticipate this combination will have a positive impact on our employees and existing business relationships with customers and suppliers, especially multinational clients," added Pete Hartman.
Savoye Inc. is a division of Groupe Legris Industries, based in Rennes, France. Overall 2009 revenues were $467 million with 2,775 employees deployed globally and working out of 24 industrial sites and 37 sales offices.