Bielefeld, August 17, 2023 - Mehrwerk GmbH has acquired the German subsidiaries of its American competitor Tenerity GmbH and Professional Travel GmbH (PTG).
The company, which specializes in value-added solutions for banks, insurance companies and energy suppliers, is thus continuing its growth trajectory with its fourth acquisition this year. Just last month, the owner-managed Bielefeld-based company announced the acquisition of Hamburg-based fintech Etvas.
"With Tenerity, we will be even more strongly positioned in Beyond Banking in Germany in the future. Together, we can tap into new potential and further expand the offerings for our new, joint customer base. Professional processing, comprehensive advice, state-of-the-art technology - all of this comes effectively from a single source for our customers," says Mehrwerk partner Niels Kokkeel. In addition to the takeover, a strategic cooperation with the previous parent company Tenerity International in the area of cyber services for end customers in Germany was established.
"Tenerity has established itself as an innovative partner in the classic value-added customer business in recent years and is known for intelligent and profitable customer loyalty programs that measurably and sustainably build a stronger bond between brand and customer. Renowned major customers speak for the quality of the service," says Mehrwerk partner and Mehrwerk Group CFO Jan Streich.
With the 55-strong Tenerity team in Hamburg, the Mehrwerk Group in Germany is growing to more than 500 employees and over 200 corporate customers with services for more than 10 million households in Germany. "We are continuously expanding our leading position in the market for value-added services in Germany. In addition to our customer portfolio, our highly qualified team is of great value to us. Hamburg, our 5th location in Germany, is also very attractive for many talented people. We will remain true to our East Westphalian origins and keep our headquarters in Bielefeld," says CEO and founder of Mehrwerk Frank Hippen.
Michele Conforti, President and Managing Director International of Tenerity, welcomes the successful transaction with the German industry leader: "We are delighted to have found such a strong and innovative partner for the further development of our activities in Germany. Both companies complement each other and will be able to offer even better services together in the future, such as cyber services.
The parent company Tenerity is headquartered in Stamford, Connecticut, and operates internationally in 15 countries.
