On June 1st 2006 a group of investors from Germany and India bought the business of Terrot Strickmaschinen GmbH, Stuttgart from the insolvency administrator Dr. Grub in Stuttgart. The name of the new company will be Terrot GmbH. The principal investors are the Matterhorn
Private Equity GmbH, Berlin and Voltas Ltd.,Mumbai, India. Jointly they will own 80% of the share capital. The Wachstumsfonds Mittelstand Sachsen and two of the company’s managers will hold the remaining 20%. The company will have initially 130 employees. Effectively
immediately the headquarters of the company will be moved from Stuttgart to Chemnitz. Voltas Ltd. is a diversified engineering firm in India and as part of its big portfolio, it has a leading presence in the textile machinery segment.

Terrot GmbH will develop, produce and market in Chemnitz high quality mechanical and electronic circular knitting machines with a variety of qualities and widths.

The demanding technology and high quality of Terrot circular knitting machines are aimed at the global market. Their products distinguish themselves by their longevity, reliability and extraordinary knitting quality. Terrot is the "Mercedes Benz" of the knitting industry. The high quality kitting ware is used in formal and informal (sport) garments as well as other technical applications such as seat covers for the automotive industry.

The purchase of the Terrot business became possible as a result of the close cooperation with the government agencies of the state of saxony, the savings- and loan association in Chemnitz, the Wachstumsfonds Mittelstand Sachsen (growthfund of saxony) and the metal workers union "IG Metall" in Chemnitz.

Over 90 percent of the production is aimed for export. The company plans to produce and sell during its first fiscal year up to 400 circular knitting machines.

One of the two partners of the majority shareholder of Terrot Ltd, Matterhorn Private Equity GmbH, Berlin, Mr. Peter Schüring is the managing director of Terrot GmbH. He describes the current situation as follows: “ As a result of the transfer of the company headquarters to
Chemnitz; many of its highly qualified workers and employees; a large reduction in production costs, Terrot GmbH has given itself the opportunity to compete and sustain its position in the global market for circular knitting machines and be accepted as a serious competitor. It has again risen like “the phoenix from the ashes”. The close link with Voltas Ltd gives the company an excellent entry into the rapidly rising textile markets in Asia. Terrot has been in business for 140
years – it has now the chance for further 140 years, since, we are sure, knitting ware is still worn
in 140 years.”