Germany-based t’works Group kicked off 2022 with news of its Iberian expansion. The private equity-backed partnership of language service providers (LSPs) completed its acquisition of Portugal-based Traductanet on December 20, 2021.
Christian Enssner, Founder and Managing Partner at t’works, told Slator that Traductanet represents the company’s first footprint in Iberia and South America. Founded in the 1980s, Traductanet services multiple client sectors including legal, finance, pharma, engineering, automotive, telecommunications, IT, retail, banking, and tourism from its offices in Portugal and Brazil.
“We continue to grow our European footprint outside of our well-established market position in the DACH region,” Enssner said. t’works was originally established from a partnership of three German LSPs (Wohanka, Obermaier & Kollegen, Ü-Werk and Enssner Zeitgeist Translations). The group went on to acquire Germany-based text&form in 2019, Austria-based ASI and Germany-based ProLangua in 2020, and France’s Lexcelera in 2021.
In addition to geographical expansion, Enssner highlighted the “highly motivated and tech-savvy” nature of Traductanet’s team as a big positive. The companies had no existing relationship before t’works was approached by investment bank Alantra on the possibility of acquiring Traductanet.
The t’works Founder declined to share the purchase price or valuation for Traductanet, but told Slator the Portugal-based LSP generated revenues of EUR 2.2m (USD 2.5m) in 2021. t’works’ own 2021 revenues stand at EUR 22m (USD 25m), Enssner said. The combined organization employs around 210 full-time staff across 14 locations in Europe and the Americas.
As with other t’works companies, the Traductanet brand will remain and the LSP will operate independently, headed by its current management. Enssner explained that t’works companies cooperate strategically and benefit from “group investments in technology and talent.”