Atlas Copco to Acquire Self-Pierce Riveting Business

Atlas Copco U.K. Holding Ltd., Atlas Copco North America LLC and Atlas Copco Asia Pacific Pty Ltd. have signed an agreement to acquire all entities of self-pierce riveting specialist Henrob with main facilities in the U.S. and the U.K.

The acquisition offers Atlas Copco an opportunity to expand in a fast-growing market segment, with state-of-the art technology. Henrob is a pioneer and market leader in self-pierce riveting, a mechanical fastening process for joining two or more sheets of material where welding is difficult, e.g. aluminum. The company, which is privately owned, had revenues of MUSD 162 (MSEK 1 063) in a 12 months period ending June 2014 and about 400 employees.

The acquisition is subject to certain governmental approvals and is expected to close in the third quarter 2014. Henrob is a supplier to some of the leading auto manufacturers in Europe and North America. Atlas Copco’s global footprint will open up possibilities to serve customers in more markets. Henrob will become a business line within the MVI Tools and Assembly Systems division in the Industrial Technique business area. The brand will be kept. (source: business wire)