August 17th 2020, Burgos, Spain
Worldwide Environmental Products, Inc. (Worldwide), has acquired the majority of the shares in Técnicas Reunidas de Automoción (Ryme).
Since 1984, Worldwide, a high growth technology company, has been designing, implementing, operating and servicing various types of motor inspection programs from its headquarters in California. From the inspection equipment design and maintenance, software development, to database management, to quality control and assurance, to personnel training; Worldwide provides turnkey solutions for the successful management of vehicle inspection programs.
Founded in 1982, Ryme is a company dedicated to the design, development, manufacture, installation and maintenance of equipment for the safety/technical inspection of vehicles. Ryme’s 15,000 m2 headquarters is located in Burgos, Spain. The company’s objective is to develop new products and continuously improve products currently in the vehicle inspection market.
The combination of the two companies will deliver a bespoke solution from technology to hardware driving an innovative change to the industry.
Worldwide’s President and Chief Executive Officer, Bill said, “Ryme is one of the most well-known manufacturers of vehicle inspection equipment with an extensive range of products on the market in six continents. We are well known to provide the industry’s most proven and innovative technology that increases inspection throughput while providing greater reporting capabilities, transparency and security. Our latest acquisition allows us to fully integrate our supply chain through the inspection equipment we currently do not manufacture. This is affirmed by successfully obtaining two of the largest contracts in the industry over the past year. This strategic acquisition is a major milestone in our history and I am delighted for the opportunities that this brings to the company moving forward”
Michael Delaney, an Officer at Worldwide, has been named Managing Director/Chief Executive Officer of Ryme. “Worldwide has been working with Ryme for the past two years so there is already a solid understanding of how the companies operate together. The synergies between Worldwide and Ryme are bringing something to the vehicle inspection industry that currently does not exist and we have already started to see the value in the partnership. I am looking forward to the opportunity to continue to work with the talented staff at Ryme, in a different role now as MD/CEO, as we continue to innovate with new technologies and expand our presence globally. We are also excited to announce contracts that the Worldwide and Ryme partnership has already been awarded in different regions around the world.”
James Delaney, Worldwide’s Chief Financial Officer, has stated the following, “Acquiring controlling interest of Ryme’s shares creates significant value for Worldwide, as we continue to launch projects in new markets where Ryme’s products are essential to our solution. This will help meet our short and long term goals of expanding our business model and diversifying our revenue streams.”
Worldwide Official Website
Ryme Official Website